Treasury Wine to push US brands in Asia

Treasury Wine Estates has more than doubled its annual profit and is gearing up for a big push of its US brands into China. After more than doubling its annual profit, the company behind Penfolds and Wolf Blass is set for a big push of its US labels into Asia. Treasury Wine Estates shares hit a record high on Thursday as chief executive Michael Clarke unveiled a $179.4 million profit – up from $77.6 million, and outline the next step for the company’s expansion in the critical Asian marketplace.