Lower yield and marketing efforts to flatline Delegat profits

Sun, 25 Aug 2019

By Victoria Young Aug. 26 (BusinessDesk) - A lower yielding vintage and a yet-to-be deployed marketing effort will hamper profit growth for Delegat Group next financial year despite an expected boost in wine sales. Delegat said following a 14 percent boost in operating net profit before tax to $51.4 million in the 12 months to June, the figure, which strips out movements in the fair value of grape investments and derivatives, would flatten in 2020. Analysts were told on Friday that Delegat now sells 345 glasses of wine every minute, a...

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