Today, Treasury Wine Estates reported a sales and operating profits increase in the first six months of its fiscal year, hinting at a turnaround in fortunes for the group. Here, just-drinks takes a closer look at the Australian-headquartered company's performance by region:

Australia and New Zealand

The region reported operating profits (EBITS) growth of 84.5% to AUD43.9m (US$22.3m) partly due to the October release of the 2015 Penfolds range. Lower overheads were partially offset by an uplift in marketing and competition.

Reported volumes were down for the year. However, TWE said volumes were flat if excluding non-TWE brands in fiscal 2014 that were repeated in the current period and continued destocking in major retailers.

Asia

Operating profits (EBITS) in Asia grew to AUD19.9m in the first half, up from AUD4.9m in fiscal 2013 on the back of 9.7% volumes growth.

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TWE said customers have &quotresponded positively&quot to marketing for Penfolds and Wolf Blass in China, Hong Kong and Taiwan. Depletions in China saw double-digit growth and &quotcontinued to significantly exceed shipment volume&quot, the company said.

Americas

The region saw operating profits (EBITS) grow by 45% to AUD35.8m as TWE continues to premiumise in the US. Luxury and &quotmasstige&quot depletions in the US were up 8% and 17%, respectively. This was partially offset by increased marketing and the effects of the Napa earthquake in October.

In Canada, operating profits were up by 33% on a constant currency basis.

Europe, Middle East & Africa (EMEA)

Operating profits (EBITS) were down significantly to AUD6.3m on lower volumes as TWE exited &quotunsustainable volume in retailers&quot. An increasingly competitive trading environment in the UK and Nordic markets also hit the bottom line, together with an increase in marketing.