Delegat’s sees 10 percent lift in 2014 profit, warns strong currency may hit bottom line

Thu, 05 Dec 2013

By Paul McBeth Dec. 5 (BusinessDesk) - Delegat’s Group, the winemaker which this year bought Australia’s Barossa Valley Estate brand, expects operating profit to rise by about 10 percent in 2014, though it warns a high kiwi dollar may hurt earnings. Net operating earnings are expected to rise to $29 million in the 12 months ending June 30, 2014, from $26.3 million a year earlier, managing director Jim Delegat told shareholders at today’s annual meeting in Auckland. Still, the kiwi dollar, which recently traded at 82.05 US cents, has been...

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