INDEPENDENT NEWS

Delegat has record 2018 harvest

Published: Fri 4 May 2018 06:20 PM
Delegat has record 2018 harvest, driven by increase in NZ grapes
By Jonathan Underhill
May 4 (BusinessDesk) - Delegat Group, New Zealand’s largest listed winemaker, says it had a record harvest this year, driven by an increase in New Zealand grapes, while its Australian harvest fell.
The Auckland-based company said the 2018 harvest rose to a record 40,059 tonnes, as grapes collected in New Zealand rose 10 percent to 38,012 tonnes. The Australia harvest for Barossa Valley Estate fell to 2,047 tonnes from 2,760 in 2017.
"The 2018 vintage has delivered excellent quality in all regions," managing director Graeme Lord said in the statement.
The winemaker, whose stable includes the Oyster Bay brand, reported in February a 9 percent gain in first-half operating profit to a record $26.9 million. At the time, chairman Jim Delegat said the group was on target to achieve global case sales for the full year of 2.78 million, up 5 percent on the prior year. It forecast a 2018 operating profit result of at least $40.7 million, up 6 percent on the year.
Delegat's bought the assets of Australia's Barossa Valley Estate out of receivership for A$24.7 million in 2013, gaining a 5,000-tonne winery, a 41-hectare vineyard in the Barossa Valley, grape grower contracts and inventory and brands.
The shares last traded at $7.62 and have gained 25 percent in the past 12 months.8.29 and have gained 32 percent in the past 12 months.
(BusinessDesk)
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
Contact BusinessDesk
Email:

Next in Business, Science, and Tech

Next steps for Auckland light rail
By: New Zealand Government
Gender pay gap unchanged since 2017
By: Statistics New Zealand
Stuff pulls pin on media companies' joint ad-buying business
By: BusinessDesk
Transdev to Acquire Auckland And Wellington Bus Businesses
By: Transdev
Twyford's choice: NZTA or Super Fund for Auckland light rail
By: BusinessDesk
A whole term of Government with no shovels in the ground
By: New Zealand National Party
Transport Agency welcomes next steps for light rail
By: NZTA
Light rail delay creates highway opportunities
By: Automobile Association
Government taking action to close gender pay gap
By: New Zealand Government
Genter delaying pay equity for publicity stunt
By: New Zealand National Party
Gender Pay Imbalance - call for PM to take action
By: New Zealand Council of Trade Unions
Persistent gender pay gap - need for Govt to move faster
By: NZEI Te Riu Roa
Opportunity to fix the gender pay gap in tertiary sector
By: Tertiary Education Union
Government must take the handbrakes off, deliver equal pay
By: Public Service Association
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media