(Wines&Vines) - After a troubling recent past, Treasury Wine Estates (TWE) seems to have recovered its footing in the global wine industry and is even thriving.

On Feb. 18, TWE announced its interim 2016 financial results, with net profits after tax more than double the previous period at $65.6 million (all figures in USD) on a reported currency basis and up 39% on a constant currency basis.

Earnings before interest, tax, assets and material items were up 72% to $109.6 million.

The company’s Americas division reported a 67% increase in earnings to $56 million. Sales growth has been fueled by the new focus on higher priced wines and reshaping the company’s U.S. portfolio.

European earnings also doubled to $12.7 million, and earnings grew by $19.4 million to $35.1 million in Asia.

The change in the company’s overall strategy, which has been led by CEO Michael Clarke, who took the job in February 2014, appears to have paid off for TWE.

The new strategy also paid off for Clarke, who received a 30% raise to $1.6 million per year in March. In announcing the pay increase, the company noted the “significant turnaround of the business,” and chairman Paul Rayner said Clarke’s “vision and leadership has been critical to TWE achieving outstanding results for our shareholders.”

TWE’s U.S. operations also have a new boss. The company announced Bob Spooner as the new president of TWE Americas in February. Spooner joined the company in January 2015 as chief supply officer to help make the shift toward more luxury and premium brands.