Delegat first-half profit climbs on record sales volumes

Sun, 24 Feb 2019

By Paul McBeth Feb. 25 (BusinessDesk) - Delegat Group lifted first-half profit 30 percent as it sold a record volume of wine worldwide as the northern hemisphere markets become increasingly important to the winemaker. Net profit was $25.3 million in the six months through December, up from $19.4 million a year earlier. That included a bigger write-down in the fair value of Delegat's grapes than a year earlier and a turnaround in the valuation of financial derivatives. Stripping out unrealised fair value movements, the winemaker's oper...

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