NZ: Delegat's calms share leap concerns
Delegat's Group has moved to clarify a recent leap in its share price.
The New Zealand wine company was responding to a request from the New Zealand Stock Exchange today (9 March). Delegat's saw its share price rise to NZ$2.78 today, a 10.32% rise since the market closed yesterday.
The company pointed to an article in today's New Zealand Herald, which dealt with the current grape harvest for the country's wine industry as a whole. "In addition, Goldman Sachs JB Were (NZ) Ltd released their own research report on Delegat's yesterday," the company added.
No further details were given.
Last month, Delegat's posted a 59% leap in sales for the last six months of 2006. Net profit for the period almost doubled to NZ$6.4m (US$4.4m).
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