Delegat achieved a 4% increase in wine case sales to 1.97 million, and a 12% increase in sales revenue to $197m in the first half of the 2023 financial year.
The listed winemaker and exporter declared net profit after tax of $40.2m, up 2%, but directors stuck to the policy of not paying an interim dividend.
Delegat said it did not incur major damage to its vineyards and wineries in Hawke’s Bay from Cyclone Gabrielle.
The outlook is for global case sales of 3.65m in the full financial year to June 30 and operating profit guidance of $59m-$62m.
During the past year Delegat shares have fallen from $13 to around $9 and, with the most recent dividend of 20c in FY2022, have been low yielding.
