The strong performance was driven by surging demand for the group’s flagship brand Penfolds in China following the removal of Chinese tariffs on Australian bottled wine in early 2024

The group also benefitted from a full-year contribution from Daou, the luxury California winery that TWE purchased in October 2023 for $1billion.

Speaking on the results, chief executive and managing director Tim Ford said: “Overall, I am pleased with TWE’s fiscal 25 performance. While we continued to face headwinds in a number of markets, we remained laser-focused on executing our business plans, further strengthening the business for long-term growth and achieving strong financial performance, underpinned by Penfolds’ continued momentum and integrating Daou into our luxury portfolio.

“We also completed transitioning to our new luxury portfolio-led operating model, a structural evolution that enhances our strategic clarity and positions us well for the future.”

Fiscal 25 will be the final financial year under the stewardship of Ford, who announced in May that they would be leaving the company at the end of September after 14 years. He will be succeeded by Sam Fischer.