3 Dec 2008

Wine producer Delegat's expects 29% profit rise

8:45 am on 3 December 2008

Delegat's Group expects to toast another year of record profits, as its premium brands gain popularity overseas.

The wine producer told shareholders at its annual meeting that the economic downturn has not come knocking on its door.

In what it described as a conservative guidance, Delegat's expects its profit to increase 29% to $24.7 million in the 2009 year.

Managing director Jim Delegat says the company is taking full advantage of the country's good reputation for wine-making overseas.

He said despite the economic downturn, consumers around the world are still trading-up to super premium brands from leading wine regions.