Treasury Wine Estates starts phase two of savings program

Treasury Wine Estates has entered the second phase of its supply chain optimisation program that should bring in an annual saving of around $50m by fiscal-2020. In a filing to the Australian Stock Exchange earlier this week, the company said it has completed the first phase, which was announced at the end of March. At the time, the company said it expected the first phase, which would mainly effect its operations in Australia and the US, to result in a write-down of around $50m.