Wine maker and exporter, Delegat Group, has reported solid financial results for the 2024 fiscal year, with an increase in sales revenues and operating earnings.
Sales revenues reached $371.8 million, marking a 1% rise from the previous year, while operating earnings before interest, tax, depreciation and amortisation (EBITDA) were up 7% to $128.5m.
Operating net profit after tax (NPAT) also saw a 1% growth, amounting to $59.7m.
However, the company's reported NPAT declined by 52% to $31.4m.
Delegat attributed this decrease to the requirement of valuing biological assets at market value and the impact of tax legislation changes on depreciating commercial buildings.
The group expressed confidence in its ability to drive long-term sales and earnings growth.
Global case sales for the year stood at 3.6 million, a 2% decrease from FY23.
Delegat's sales remained well diversified by market, with 48% in North America, 33% in the United Kingdom, Ireland, and Europe, and 19% in Australia, New Zealand, and the Asia Pacific region.
The company also announced a fully imputed dividend of 20 cents per share.
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