New Zealand wine producer raises full-year profit guidance by up to 24% citing stronger sales and reduced US tariffs.
Delegat Group increased its net operating profit after tax forecast for the year to 30 June to NZ$60m-NZ$62m, up from NZ$50m-NZ$55m. The upgrade reflects stronger global case sales, particularly in the fourth quarter, and lower US tariffs extended beyond expectations.
In the first half, Delegat reported a 5% rise in net profit after tax to NZ$22.8m, with EBITDA up 6% to NZ$65.6m. Sales revenue grew 1% to NZ$178.7m, while global case sales increased 3% to 1.69 million. Volumes surged 16% in Australia and New Zealand but fell 14% in North America.
The company attributed the improved outlook to favorable foreign exchange rates and sustained lower tariffs on US shipments from February. Full-year results will be released in late August.