Treasury Wine has lifted its profit forecasts after booming sales in China, led by Penfolds. Photo: Penny Stephens

Treasury Wine Estates, the owner of brands including Penfolds, Wolf Blass and Rosemount, has upgraded its profit forecasts after strong sales, with the China business a standout as demand continues to rise for the flagship Penfolds brand.

Treasury chief executive Mike Clarke said on Thursday after the sharemarket closed that there had been a strong first-half result across all of the main regions, which include Asia, Australia and the United States.

"Our Asia business performance is particularly pleasing, as we benefited from increased shipments to the region ahead of Chinese New Year in February," he says.

Treasury will officially announce its first-half results on February 18, but on Thursday outlined that earnings before interest, tax and the SGARA agricultural accounting standard for the first half would be between $140 million and $150 million, well ahead of the consensus forecasts in the market of $120 million.

It now expects that its full-year earnings will be at the upper end of the range of between $270 million and $290 million given on October 14 when it announced that it was acquiring most of the wine business operated by alcoholic beverages giant Diageo for $754 million. Most of those assets are in the United States.

Treasury shares gained 9?to $7.90 on Thursday, and it has been holding up strongly as the broader sharemarket slides.

Mr Clarke also says that the second half of 2015-16 will be a "reset" period for the Diageo wine business, as the company attempts to replicate the strategy in the US used for the broader Treasury wine business of reinvesting in marketing behind the biggest brands.

The Australian wine industry has been benefiting from rising sales to China, with official export figures from Wine Australia out on Thursday showing that total exports increased by a whopping 66 per cent in the 12 months ended December 31, 2015, to $370 million.