Profits up for Delegat Group
New Zealand’s largest listed winemaker declared an unaudited Operating Net Profit for the year to June 2018 or $44.9 million, up 17% on the previous year. They achieved that result through record global case sales, lower cost of sales per case, higher yielding 2016 and 2017 vintages and lower financing costs.Delegat Group NZ’s main brand is Oyster Bay. They operate large modern wineries in Marlborough and, more recently, Hawke’s Bay.
That impressive result is slightly tempered by a revised forecast of case sales over the next three years, which has been reduced by 3.6%. Estimated cases sales for the next three years have a compound average growth rate of 7%.