Delegat's profits steady despite forex crunch

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Winemaker Delegat’s Group (DLG) have kept profits steady despite a strong dollar and a slump in European sales.

In six-monthly reports to December filed to the NZX, Delegat’s reported net profit after tax of $17.4 million, slightly up on the same period a year prior ($17.1 million).

The results came despite a strong dollar and a sales slump in Delegat’s largest market, the United Kingdom, Ireland and Europe.

Delegat's said the high dollar effectively cost $2.4 million compared to the same period a year earlier.

Sales revenue declined 10%, to $119 million from $131.7 million, after exports to Europe dropped 24%. The decline in Europe was partly offset by a 17% increase in the number of cases sold in North America.

Delegat's said the result left it on track to full-year profit targets of between $20.5 million and $24 million.


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7567 0.0000 0.00%
AUD 0.9753 0.0000 0.00%
EUR 0.6945 0.0000 0.00%
GBP 0.5084 0.0000 0.00%
HKD 5.8650 0.0000 0.00%
JPY 90.0730 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1198.2 -4.740 2015-03-27T00:
Oil Brent 56.4 0.950 2015-03-27T00:
Oil Nymex 48.9 -2.560 2015-03-27T00:
Silver Index 17.1 -0.090 2015-03-27T00:

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NASDAQ 4863.7 4899.3 4863.4 0.57%
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DJI 17673.6 17729.1 17678.2 0.19%
FTSE 6895.3 6910.6 6895.3 -0.58%
HKSE 24541.4 24549.9 24497.1 -0.04%
NI225 19374.7 19590.0 19471.1 -0.95%