Delegat's Group - Half year results
Revenue - $127m up 49pc
After tax profit - $15.7m up 146pc
Dividend - n/a
Oyster Bay - Half year results
Revenue - $4.94m
After tax profit - ($830,000)
Dividend - n/a
Delegat's Group's profits have bubbled over with the winemaker reporting half year net profit fizzing up 146 per cent to $15.7 million.
The maker, marketer and exporter of Delegat's and Oyster Bay wines, with wineries and vineyards in Marlborough and Hawke's Bay, increased total revenue 49 per cent
to $127.3m in the six months to the end of December 2008, on the same period last year.
Earnings before interest, tax, depreciation and amortisations rose 54 per cent from $22.3m to $34.2m and operational cash flow grew 217 per cent from $7.4m to $23.4m.
"Delegat's continues to demonstrate its ability to achieve volume and value growth - testimony to the valuable niche that has been established for its Oyster Bay brand," said chairman Robert Wilton.
"The outlook for the 2009 harvest is the best for many years. The spring growing conditions have been favourable and the anticipated yield quality of the fruit is expected to be excellent."
Oyster Bay Marlborough Vineyards itself yesterday reported a loss of $830,000 in the same six months, with interest rate hedges and a tax adjustment contributing.
Shares in Delegat's were worth $2.02 at the close of trading yesterday.
- NZPA
