Glass Half Full: Penfolds Owner ‘Excited’ Despite Loss

Treasury Wine Estates posted a first-half net loss of $649.4 million, driven by significant impairment of its U.S. assets.

Penfolds wines for sale at a store in Beijing, China, on Dec.17, 2020. Noel Celis/AFP via Getty Images

A premium wine maker, whose portfolio includes the prestigious Penfolds brand, has plunged into the red after it was forced to swallow a one-off hit to its bottom line.