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

 

Delegat grape harvest growth slows

Delegat grape harvest growth slows, still has enough stock to meet projected sales

By Paul McBeth

May 10 (BusinessDesk) - Delegat Group recorded a small gain in its Australian and New Zealand grape harvest but has enough stock on hand to meet its projected sales targets for the coming year.

The Auckland-based winemaker, whose brands include Oyster Bay, had a 4 percent increase in the New Zealand harvest to 34,595 tonnes, while its Australian harvest grew 6 percent to 2,760 tonnes, it said in a statement. Last year, Delegat's New Zealand harvest expanded 33 percent from a weather-affected crop in 2015, while the Australian vineyards delivered a 56 percent increase in 2016.

"This Barossa Valley harvest is one of the best of recent times. The New Zealand harvest is or very good quality albeit that the onset of harvest was delayed due to late summer rains," managing director Graeme Lord said in a statement. "The group has appropriate inventories to achieve future sales growth in line with guidance provided in the 2016 annual report."

Delegat is targeting a 9 percent increase in global case sales to 2.6 million in the 2017 financial year and posted a 17 percent gain in first-half operating profit to $24.7 million on a 6 percent gain in revenue.

The shares slipped 0.8 percent to $6.15, having gained 6.9 percent so far this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: