Winemakers see off shipping bottlenecks with corker earnings

Delegat still managed to grow sales in North America. (Image: supplied)

Fri, 27 Aug 2021

Winemakers Delegat Group and Foley Wines both notched up record operating profits in the June 2021 year despite the snarling up of global shipping, but a smaller harvest has them tempering expectations for the coming year.Delegat reported an operating profit – which strips out the impact of grape and derivative revaluations – of $65.5 million in the 12 months ended June 30, up 8% from a year earlier, and while revenue was flat at $302.7m. Meanwhile, the smaller Foley Wines lifted operating profit 3.7% to $8m on a 3.8% increase...

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