Delegat Group has provided an update on its earnings guidance for the year ending June 30, 2024, and its three-year case sale volume guidance.
The company now expects global case sales of 3,614,000 cases for 2024, which is a decrease of 1.7% compared to last year and 5.5% lower than previous guidance.
This revision is due to distributors and retailers reducing inventory holdings, resulting in lower replenishment orders.
The Group has also adjusted its guidance range for Operating Net Profit after Tax to $57.0 million to $61.0 million for the same period, compared to the previous guidance of $62.0 million to $67.0 million.
In the future, the company plans to increase prices to offset cost inflation and aims to grow profitability in key markets.
The case sales volume guidance for 2025 and 2026 is expected to be 3,775,000 and 3,900,000 cases, respectively, which is a decrease of 4.4% and 5.0% from previous guidance.
Oyster Bay, a brand under Delegat Group, has performed well in the US market, achieving retail sales growth of 9% compared to the flat category
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