Treasury's net profits reached AU$179.5m for the 12 months to June 30, compared with AU$77.6m in the same period a year earlier ?an increase of 131%.

Shares in the Australian winemaker, which owns Australian brands include Penfolds, Wolf Blass, Lindeman's and Rosemount, have risen by 10% off the back of a strong set of results.

Total net profits after tax reached AU$179.5m for the 12 months to June 30, compared with $77.6m in the same period a year earlier, representing a 131% increase.

Earnings before tax (EBITS) in Asia grew by 40% compared with the previous year to AU$102m, with volumes increasing by nearly 40%. This was driven by the company's continued optimisation of routes-to-market across the region and 搃ncreasing consumer demand for imported wine brands."

In Europe EBITS more than doubled from the previous year to $47.7m -an increase of 198% from $16m the same period last year -while the Americas saw a 64% uplift to $136.3m.

In Australia and New Zealand, EBITS grew 4% $92.3m, which TWE said was due to strong growth in its "Priority Brands"and improved pricing on supply constrained wines.

Michael Clarke, chief executive, said the result emonstrates that momentum across our business is accelerating."TWE is now delivering consistent earnings growth and margin accretion on a more balanced, sustainable and quality earnings basis."The stunning return to profit follows a tumultuous few years for the Australian producer, which saw it post a crushing loss of AUS$100 million (￡56m) in its 2014 end of year results, prompting plans to restructure its business driven by newly appointed CEO Clarke.Last October, Treasury bought much of Diageo's wine business for ￡361m, which included its UK wine business Percy Fox, including wine brands Blossom Hill and Piat d'Or, as well as US-based Chateaux & Estate Wine business, whose brands include Beaulieu Vineyards, Sterling Vineyards, Acacia, Provenance and Hewitt.

The acquisition helped boost earnings for the second half, particularly in the Americas and Europe, with the company reporting a 42% rise in net profits to AUS$60.6 million in the six months to December 31, up from $42.6 million a year earlier.

"Diageo Wine reported an EBITS margin of 16.5% in 2H16 reflecting a favourable mix impact from withdrawing from unprofitable volume and some benefit from overheads already absorbed by TWE's base business? said Treasury. "This was partially offset by significantly elevated brand building investment, notably in the Americas."

Following the accelerated delivery of benefits from its supply chain optimisation initiative, TWE now expects total supply chain savings to reach at least $100m (up from $80m) by F20.

"In summary, the strong full year result demonstrates continued progress to transition TWE from an agricultural, order-taking company to a brand-led, marketing organisation",TWE surmised.

"Crucial to this transition is embedding a balanced and sustainable business model across TWE's brand and regional earnings mix, as well as building further flexibility and diversification into the Company's supply model."

"TWE is now marketing and selling its key brands across all four quarters of the year, rather than delivering the majority of its earnings from only a few brands in the final quarter of the fiscal year. As a result, TWE'S earnings will continue to be more evenly spread across the fiscal year."