27 Feb 2012

Asia a hotspot for Delegats' wine growth

7:26 am on 27 February 2012

The company that produces Oyster Bay wines says it sees Asia as a focus for further growth.

Listed wine making company Delegats made $14.7 million in the six months to December, but when one-off costs are excluded, operating profit rose 2% to $17.4 million.

Revenue dropped 10% to $119 million, with its case sales down 9%.

Delegats managing director Jim Delegat says it is expecting to see growth in Ireland and Canada, while in Australia, Oyster Bay continues to be a strong brand.

Mr Delegat says the company is also growing its ties with Asia.

He says the company has opened offices in Singapore and Hong Kong and it had very good existing business, as well as a growing duty free trade there.