Delegat annual profit rises 3% as increases in volumes outweighs higher currency

Thu, 28 Aug 2014

By Tina Morrison Aug. 29 (BusinessDesk) - Delegat Group, New Zealand's largest listed wine company, increased annual profit 3 percent as record volumes muted the impact of a stronger local currency. Profit rose to $42.6 million, or 42.12 cents a share, in the 12 months ended June 30, from $41.2 million, or 40.76 cents, a year earlier, the Auckland-based winemaker said in a statement. Revenue rose 1 percent to $231.8 million as a 4 percent increase in volumes to a record 2.031 million cases of wine was crimped by a higher New Zealand dolla...

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