29 Aug 2009

Wine company profit up

8:51 am on 29 August 2009

Rising sales helped wine maker Delegats increase its profit by more than half to $30 million in the year to the end of June.

Revenue was up 37% to $229 million and global sales rose 20%, helped by the Oyster Bay brand.

Prices were up 11%, despite a challenging business environment, with the group saying some wine producers found their supply exceeded demand during the period.

Delegats has announced a final dividend of 8 cents per share.