2234 GMT - E&P retail analyst Phillip Kimber says the 1Q trading update from Australia-based vintner Treasury Wine is "pleasing," noting there had been some stock-price weakness leading into the company's annual shareholder meeting today. Treasury said earlier that its focus on the luxury wine segment was driving performance, with double-digit organic growth in a key revenue metric in 1Q versus the prior corresponding period. Treasury also confirmed its FY 2025 guidance for its important Penfolds unit and for the company as a whole, saying it expects company-wide FY 2025 Ebits in the range of A$780 million to A$810 million. Treasury shares are down about 2.6% so far this month, versus a slight gain of 0.2% in Australia's benchmark stock index. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
October 16, 2024 18:34 ET (22:34 GMT)
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