Winemakers profitability hit by supply chain and covid impacts

Delegat’s managing director Steven Carden said the 2022 harvest delivered “exceptional quality fruit” across all three of its wine regions. (Image: Getty)

Riley Kennedy

Fri, 26 Aug 2022

Listed winemakers Delegat Group and Foley Wines both reported weaker profitability in the June year as economic headwinds and global shipping delays continued to bite.Delegat posted an 11% decline in its operating profit – which strips out the impacts of grape harvest and revaluations – to $58.1 million from $65.2m in the prior year. Net profit rose 2% to $63m.However, Delegat’s operating revenue increased 7% to $325.4m on a 6% increase in global case sales to 3.36m.Smaller producer Foley Wines reported an operating profit dec...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}