Markets

Winemakers see off shipping bottlenecks with corker earnings

Paul McBeth
Fri, 27 Aug 2021

Winemakers see off shipping bottlenecks with corker earnings
Delegat still managed to grow sales in North America. (Image: supplied)
Paul McBeth
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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