Delegat's Group has said that it is performing in-line with expectations, but currency, a continuing oversupply of wine and macroeconomic weakness continue to pose challenges.
Delegat's Group has reported increases in net sales and profits in the first half of its fiscal year, but has warned that New Zealand's wine grape glut could last for another three years.
Delegat's Group has moved to acquire full control of under-pressure Oyster Bay Marlborough Vineyards in order to protect its wine grape supplies for the Oyster Bay brand.
Impairment charges wiped out the majority of Delegat's Group profits for its latest fiscal year, but the Oyster Bay wine brand owner said that it was upbeat on future sales.
A slump in wine grape prices and impairment charges on the value of vineyards has caused Oyster Bay Marlborough Vineyards to swing to net losses for its fiscal year.
Delegat's Group has increased its stake in New Zealand's Oyster Bay wine to almost 55% after buying out disgruntled investor Peter Yealands.
Delegat's Group has posted a healthy lift in figures for its fiscal year.
Oyster Bay Marlborough Vineyards has appointed a new director to its board.
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- What the future looks like for Australian wine
- Diageo ready to lock horns with AB InBev in Africa
- Heineken sees Tesco pull SKUs in UK
- Coca-Cola Co announces senior executive shake-up
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Heineken mulls M&A with $1.75bn notes issue
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global liqueurs insights - market forecasts, product innovation and consumer trends research