Delegat shares jump as investors see upside to record sales

Mon, 24 Feb 2020

Delegat Group shares jumped as investors predict the winemaker played down its outlook after reporting a record first-half result. The New Zealand winemaker reported an operating profit of $34.4 million in the six months ended Dec. 31, up from $31.4 million a year earlier, as revenue rose 10 percent to $156.7 million. It sold a record volume of 1.7 million cases, and said it was on target to lift annual case sales 8 percent to 3.2 million. The shares rose 5 percent to $11.10, outperforming the wider market with the benchmark S&P/NZX 50...

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