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Delegat’s lifts profit, selling more wine while keeping expenses in check

The company lifts total case sales by 7% to 1.09 million in the first half, with the strongest growth in North America.

Delegat's shares hit record high as profit beats guidance

Chief executive Jim Delegat

Winemaker's shares rise to $3.04 and have advanced 26% in the past six months.

Oyster Bay’s grape price drops by 20%

Listed grapegrower Oyster Bay Vineyards has seen the price of its grapes drop by a fifth in its latest deal with sole customer Delegat’s as the oversupply issue continues to push prices down around the country.

The Marlborough grape grower confirmed today that it had completed negotiations with Delegat’s Wine Estate, which had achieved an average price of $1469 per tonne.

That figure was down 20.3% on the previous year, when an average of $1843 a tonne was paid.

Delegat’s growth not matched by share price rises

Delegat’s profit, revenue and dividend payments are all on the rise, but the wine company’s share price stubbornly refuses to budge very far.

Currently sitting at the $2.50 level, the company’s share price has not changed all that much since reaching that mark soon after it listed in 2006, despite continued growth.

Delegat: 'Yealands cost us a dividend'

Yealands: Oyster Bay grapes at a “fair price”

Bulldozer-cum-wine entrepreneur and Oyster Bay Marlborough Vineyards minority shareholder Peter Yealands says he is satisfied with the price it is selling its grapes to majority shareholder Delegats, but still has procedural issues with NZX’s oversight.

Mr Yealands says he is happy with the $1843 per tonne average, a price he describes as “fair”.