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

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news