You are required to evaluate and report on the FY$2023$ annual report of an Australian company listed on ASX, Treasury Wine Estates $($TWE$),$ as if you were investment analysts making a recommendation on whether your clients should invest in it$.$

Q$.$Environment and Industry Analysis, including:

$$ Discussion of the environment: $(1)$ identify the economic or other relevant factors, $(2)$ discuss how these factors affect the company$$s operating environment, and $(3)$ explain how the trends in these factors affect the company in the future.