Delegat's shares rise 3 percent , matching Aug. 16 record high, as winemaker beats FY guidance

Wed, 29 Aug 2012

By Hannah Lynch Aug. 29 (BusinessDesk) – Shares of Delegat’s Group rose 3 percent to match the record set earlier this month, after the winemaker beat its full-year guidance and forecast sales growth to continue in 2013. Operating profit was $25.6 million in the 12 months ended June 30, up from $23.9 million a year earlier and beating the winemaker’s December guidance. Net profit fell 22 percent to $25.5 million, mainly reflecting one-time accounting gains a year earlier. Sales slipped 6 percent to $221.6 million. Delegat's shares rose to $...

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