Wine company Delegat revises forecast full-year profit to $37 mln on record case sales

Fri, 08 Jul 2016

By Fiona Rotherham July 8 (BusinessDesk) - Delegat Group, New Zealand’s largest listed wine company, has revised its forecast net operating profit for the 2016 financial year up $1 million to $37 million on record case sales. Net profit is expected to be $54 million for the year ended June 30, including a $17 million fair value adjustment to biological assets such as its vines and grapes Delegat said in a statement to the NZX. It also said it achieved record case sales of 2.4 million for the year, up 9 percent on last year. The group’...

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