Treasury Wine: Interim result 2013

The wine business is a tough one, and Treasury Wine Estates' latest result is evidence of it. It's time to finish up and head for the exit.

Our recommendation on Treasury Wine Estates dates from our recommendation of Foster’s Group ahead of its demerger, originally on 11 Mar 10 (Long Term Buy – $5.45). Shareholders will have received 1 share in TWE for every 3 in Foster’s, and we've been recommending you hang on to them while management engineers a turnaround.

It's been a profitable ride. Since our original recommendation on Foster's Group, Foster’s itself has been taken over for $5.40 and has paid dividends worth 40.6 cents, while TWE has paid dividends of 19 cents.

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