The Treasury Wine Estates Ltd (ASX: TWE) share price has edged higher by 1% today and reached an all-time high of $13.73.
This brings the wine company's year-to-date return to over 28%.
Investors appear to have been impressed with its half-year results and positive outlook.
Thanks to its focus on portfolio premiumisation and strong sales growth in the Asia and Americas markets, Treasury Wine Estates delivered a 58.8% increase in first-half EBITS to $226.8 million in February.
Absent significant fluctuations in foreign exchange rates, management expects second-half EBITS growth to be broadly in line with the first-half.
Beyond FY 2017, the company is on track to deliver significant synergies from the Diageo Wine acquisition, as well as at least $100 million of run-rate COGS savings by FY 2020.
This morning Motley Fool contributor Tristan Harrison tipped Treasury Wine to be one of three ASX shares to benefit from the Asian middle-class boom.
