Delegat continues to invest after record year

Thu, 22 Aug 2019

By Victoria Young Aug. 23 (BusinessDesk) - Delegat Group, New Zealand’s biggest listed winemaker, lifted operating net profit by 14 percent in the June 2019 year, but indicated it was unlikely to make further gains next year. The winemaker, whose stable includes the Oyster Bay brand, posted a record operating net profit of $51.4 million for the 12 months to June 30. The earnings measure strips out movements in the fair value of its grape inventory and derivatives. Delegat posted operating earnings before interest, tax depreciation an...

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