Delegat's Group has posted a record profit as the listed wine exporter targets the super-premium market.
Net profit for the year ending June 30 was up 77 per cent at $19.1 million, with a 23 per cent rise in revenue to $165.3 million.
Managing director Jim Delegat said
the company had made excellent progress towards a strategic goal of leading New Zealand growth and establishing Oyster Bay as one of the world's great super-premium brands.
The company had global sales of 1.4 million cases, with 20 per cent growth in export case sales, compared with industry growth of 17 per cent.
"The group has once again demonstrated its ability and competitive strength to grow export market share," Delegat said.
"This success has been achieved beyond New Zealand's principal offering of sauvignon blanc, in which it also commands a leading export share."
The average market price per case was up 5 per cent on last year at $112, compared to industry export earnings of $81 a case.
New Zealand's status as a world-class producer of sauvignon blanc, chardonnay, pinot noir and merlot had never been stronger, Delegat said.
Good weather and more land coming into production boosted the 2008 harvest by 39 per cent from last year to 285,000 tonnes.
"Industry participants with leading brands, powerful established distribution networks, and an uncompromising focus on quality, are well placed to utilise the increase in supply from the 2008 vintage to meet growing global demand for super-premium New Zealand wine," Delegat said.
Total industry sales for the year ending June 30 was $1.25 billion, including a 14 per cent rise in exports to $797.8 million, with an export target of $1 billion by 2010.
The company continued to invest in brands, distribution channels and global sales capability to support sales growth, said Delegat.
Delegat's declared a total dividend of 6c per share, up from 4.5c last year.
