Delegat’s confirms jump in harvest, IFRS harvest gains to lift FY net profit

Tue, 16 Jul 2013

July 16 (BusinessDesk) - Delegat's Group, which completed the A$24.7 million acquisition of Australia's Barossa Valley Estate last month, said full-year net profit was “significantly higher” than last year’s result following a strong harvest. Net profit exceeded the $25.5 million in earned in the 12 months ended June 30, 2012, including IFRS fair value adjustments, particularly its net harvest provision. Delegat’s harvested 28,884 tonnes of grapes in the 2013 season, meeting forecasts and up 42 percent from a year earlier, when its net harves...

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