29 Aug 2014

Delegat reports $42 million profit

7:09 pm on 29 August 2014

Delegat Group has reported an annual profit of $42 million as an increase in the volume of sales was largely offset by the negative impacts of the high New Zealand currency.

The winemaker's profit rose 3 percent in the year ended June, on revenue of almost $232 million.

While revenue was up slightly from the year earlier, the company said it sold a record 2 million cases of wine, which was 4 percent more than the year earlier.

North America is now the company's largest sales region by volume.

Delegat managing director Graeme Lord said the company aimed to increase sales by 50 percent over the next five years, with the ongoing development of vineyards in the Hawke's Bay, Marlborough and the Barossa Valley.

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