Overview
- First-half earnings guidance was lowered to A$225–A$235 million, about 40% below the prior comparable period.
- The company will withdraw roughly 400,000 cases from China and 300,000 from the Americas to reduce above‑optimal stock and support pricing.
- Shares fell about 11% to near a decade low after a trading halt, and a A$200 million buyback was cancelled.
- The TWE Ascent program targets up to A$100 million in annual cost savings, with initial benefits expected in FY2027.
- Management flagged grey‑market price distortion in China and continuing US distribution uncertainty after RNDC scaled back California operations.