Treasury Wine Estates (ASX:TWE) has declared a final dividend of 17 AU cents per share.

The company’s profit for the fiscal year is reported at A$254.5 million, down slightly from A$263.2 million.

Revenue from ordinary activities has reached A$2,488.3 million, compared to the previous year’s A$2,531.8 million.

Treasury Wine Estates (ASX:TWE) remains positive about their business growth in F24 with an anticipation of high consumer demand globally, particularly for luxury wine led by Penfolds.

The company anticipates modest growth for its luxury portfolio in Treasury Americas.

Their long-term financial objective is to deliver high single-digit average earnings growth with a group EBIT margin target of 25%+.

Challenges are expected in commercial wine’s demand in Australia and the UK.

However, the demand for premium wine remains consistent.

Improved relations between Australia and China may potentially invite future review of tariffs on Australian wine.

The company is also planning to take a phased approach to Penfolds shipments across all markets.

Treasury Wine Estates (ASX:TWE) foresees Penfolds' EBITs being weighted to the second half in F24.

Heading into F24, the company retains confidence in the execution of its premiumisation strategy in response to the challenging demand for commercial wine in both Australia and UK in FY24.

Treasury Wine Estates (ASX:TWE) is a global winemaking and distribution company, known for its distinguished brands such as Penfolds, Beringer, and Stags Leap.