Australia's Treasury Wine Estates gains on surprise share buyback announcement

Treasury Wine Estates

24/06/2025 02:47

** Treasury Wine Estates TWE.AX gains as much as 6.2% to A$8.57, highest since May 21; last up 1.5%

** Australian winemaker intends to announce on-market share buyback for up to 5% of issued capital as part of its FY25 results update in August

** Sees low double-digit EBITS growth expected to be delivered in FY25 for its luxury wine division Penfolds

** Reiterates FY25 EBITS forecast of A$770 mln ($498.8 mln), up 17% y/y

** TWE down 28.8% this year, as of last close

($1 = A$1.5437)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))