On Tuesday, winemaker Treasury Wine Estates (ASX: TWE) provided an update at the Company’s Annual General Meeting (AGM). TWE announced it will deliver at least $100 million in cost of goods sold (COGS) savings – up from previously announced $80 million by FY20. The company also expects cash synergies from the Diageo Wine acquisition of US $35 million, up from US $25 million – by FY20. The company has been removing commercial brands and re-shaping the business towards prestige markets under the guidance of CEO Michael Clarke. Shares in TWE closed up 4.5% for the week. We own Treasury Wine Estates as a market-driven investment in WAM Capital, WAM Leaders and WAM Active
Established in 1997 by Geoff Wilson, we are an independently owned investment manager based in Sydney. Today, Wilson Asset Management is comprised of eight investment professionals who offer a combined investment experience of almost 100 years.