Delegat’s first-half earnings fall 7.6 percent as UK, Europe sales fall

Wed, 26 Feb 2014

By Suze Metherell Feb. 27 (BusinessDesk) - Delegat’s Group, the winemaker which last year bought Australia’s Barossa Valley Estate, said first-half profit fell 7.6 percent as sales fell in the UK and Europe and costs rose. Net profit was $17.8 million for the six months ended Dec. 31, down from $19.3 million a year earlier, the company said in a statement. Sales slipped 1.8 percent to $121 million, although overall revenue rose to $130 million from $129 million including fair value adjustments on biological assets and currency hedging. The...

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