Shares in Treasury Wine Estates have surged more than eight per cent as the wine supplier provided a bullish outlook at its annual general meeting.
TWE shares were 81 cents, or eight per cent, higher at $10.93 at 1402 AEDT.
Chief executive Michael Clarke told shareholders gathered in Adelaide that TWE, whose labels include Penfolds, Wolf Blass and Lindeman's, had a very bright future.
"I am confident that we can continue to deliver outstanding results and, therefore, further value creation for you," Mr Clarke said.
Mr Clarke reiterated guidance given in August that TWE would deliver better-than-expected savings by fiscal 2020, stronger cash benefits from its acquisition of Diageo Wine, and boost its earnings margin from 15.3 per cent now to the high teens by fiscal 2018.
He also said TWE's growing earnings margin would continue to lift.
"Again, fiscal 2017 and beyond is about growth," Mr Clarke said.
He said TWE's high-teens earnings margin guidance by fiscal 2018 was not a destination.
"In fact, TWE is on a journey to deliver a group margin that is towards our Asia region EBITS (earnings before interest, tax and self-generating assets) margin of 30 per cent plus," Mr Clarke said.
"Where we land - between our current margin of 15 per cent, and 30 per cent - will be through continued margin accretion and how much commercial (cheaper) wine TWE maintains in its portfolio."
TWE, which has a large exposure to the US market, made no mention of what impact the election of Republican Donald Trump to the US presidency might have on that key market.
In August, TWE booked an annual profit of $179.4 million profit, up from $77.6 million a year earlier.
The company enjoyed a 64 per cent rise in earnings in the Americas, reflecting its focus on selling more high-quality wines, a six-month contribution from its Diageo Wine acquisition, and favourable currency movements.
Asian earnings improved by 40 per cent as demand for imported wine rose, while earnings in Australia and New Zealand lifted four per cent.
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