Michael A. Clarke, Treasury Wine Estates Limited – CEO:

On our business models, we have strengthened our business models across Europe, Australia, New Zealand, Asia and Canada over recent years. And we’re delighted with the progress of the route-to-market transformation in the United States during Q4 of this year. Making this change in the United States was absolutely the right decision for our business. We’re already delivering enhanced value to our retail partners. And importantly, our gross profit per case during May and June in TWE’s direct states was significantly higher than the same time last year. Looking forward, we will continue making the tough, long-term strategic decisions to further strengthen our regional business model every year to deliver long-term, sustainable growth.

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