Treasury Wines boss Tim Ford has told its AGM that the closure of on-premise channels via the Sydney and Melbourne lockdowns mean execution plans in this channel are slightly behind schedule in FY 2022.
The recovery of the luxury wines channel in the Americas was also flagged as slightly behind expectations.
It said its retail and e-commerce channels continue to perform strongly, with the business performing in-line with expectations globally. No specific financial guidance was provided for FY 2022.
The group also warned of pandemic-related supply chain difficulties with shipping delays and reduced vessel capacity.
Treasury shares are up 32 per cent over the past year.