Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Delegat’s lifts 1H profit; sells more wine, cuts costs

Delegat’s lifts first-half profit, selling more wine while keeping expenses in check

Feb. 26 (BusinessDesk) – Delegat’s Group lifted first-half profit by 31 percent after increasing sales of wine in North America and Europe and keeping expenses in check.

Profit rose to $19.3 million, or 19.04 cents a share, in the six months ended Dec. 31, from $14.7 million, or 14.45 cents, a year earlier, the Auckland-based company said in a statement. Revenue climbed 1 percent to $129.1 million.

The company lifted total case sales by 7 percent to 1.09 million in the first half, with the strongest growth in North America, where sales jumped 30 percent to 309,000. Sales in the UK, Ireland and Europe climbed 2 percent to 403,000 while sales in Australia, New Zealand and the Asia Pacific fell 3 percent to 378,000.

The case price realisation fell 3 percent to $113.2, which the company said reflected adverse foreign exchange movements. The company held its operating gross margin at 59 percent.

The company is on target to achieve full-year operating profit of $27 million.

“The directors continue to see the global economic headwinds as a challenge but have confidence in the resilience of the group’s business model and its ability to deliver sustainable earnings into the future,” chairman Robert Wilton said in the statement.

The shares last traded at $5.37 and have more than doubled in the past year. The company isn’t paying a dividend.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news