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...

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