News

Treasury Wine sinks on over-supply reports

by
May 17, 2018

Shares in Penfolds maker Treasury Wine Estates have sunk to a four-month low.

Shares in Penfolds maker Treasury Wine Estates have sunk to a four-month low amid reports it is facing an over-supply of its wine in China.

The company's shares were down 10.8 per cent at $16.07 at 1200 AEST, after Fairfax Media reported that several distributors in China are sitting on large amounts of stock of that is not selling.

Treasury Wine said some customers who are not growing with the company may have been motivated to speak publicly, and admitted it was experiencing some delays in its stock being cleared by customs in China.

By
More in National
Login Sign Up

Dummy text