Australia's Treasury Wine warns weak China demand to hit profits

SYDNEY Wed Jan 29, 2014 5:46pm EST

SYDNEY Jan 30 (Reuters) - Australia's Treasury Wine Estates Ltd, the maker of Penfolds and Beringer wines, downgraded its full year earnings guidance by almost a fifth on Thursday on weak demand in China and stiff competition in its home market.

The world's second largest wine maker said it expected operating earnings of between A$190 million to A$210 million