27 Aug 2015

Winemaker racks up record profit

2:33 pm on 27 August 2015

Delegat Group has made a record high operating profit, following record case sales.

The winemaker's profit fell almost a quarter to $32.5 million in the 12 months to June, due to adjustments to the fair value of its vines and grapes inventories, currency exposure and tax.

The Oyster Bay and Barossa Valley Estate winemaker's underlying profit rose 10 percent to $34.4 million.

Sales rose 11 percent to $211.9 million, with case sales rose 9 percent to more than $2.2 million.

Delegat managing director Graeme Lord said that rise had been helped by higher North American sales.

"That a strong driver of the result."

He said sales had also risen in Britain, Ireland and Europe.

Looking ahead, Mr Lord expected sales to rise by another 8 percent in the current financial year.