Delegat Group Limited Reports Audited Consolidated Earnings Results for the Year Ended June 30, 2017; Provides Earnings Guidance for the Year 2018
August 28, 2017 at 07:05 am EDT
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Delegat Group Limited reported audited consolidated earnings results for the year ended June 30, 2017. For the year, the company reported a 6% gain in operating profit. Operating profit was NZD 38.5 million in the 12 months ended June 30, 2017. Net profit fell 15% to NZD 40.7 million, mainly reflecting an 82% drop in one-time gains in the value of its grapes and derivatives compared to the year-earlier period. Revenue was NZD 252,713,000 compared to NZD 247,331,000 a year ago. Profit before income tax was NZD 57,144,000 compared to NZD 67,189,000 a year ago. Profit for the Year attributable to shareholders of the parent company was NZD 40,656,000 or 40.20 cents per basic and diluted share compared to NZD 48,113,000 or 47.58 cents per basic and diluted share a year ago. Net cash inflows from operating activities were NZD 59,219,000 compared to NZD 42,451,000 a year ago, primarily due to higher receipts from customers from higher case sales. Cash was applied to purchase of property, plant and equipment was NZD 40,545,000 compared to NZD 113,021,000 a year ago. Cash was applied to purchase of intangible assets was NZD 585,000 compared to NZD 226,000 a year ago. Operating revenue was NZD 251.3 million compared to NZD 242.7 million a year ago. Operating EBIT was NZD 67.3 million compared to NZD 60.3 million a year ago. Operating NPAT was NZD 38.5 million compared to NZD 36.2 million a year ago. Operating EBITDA was NZD 81.1 million compared to NZD 73 million a year ago. EBIT was NZD 70.3 million compared to NZD 76.8 million a year ago. EBITDA was NZD 84.1 million compared to NZD 89.5 million a year ago. Net debt was NZD 278 million compared to NZD 282.7 million a year ago. Reported return on equity was 13.9% compared to 18.3% a year ago. Operating return on equity was 15.1% compared to 15.6% a year ago.
The company is projecting sales growth in each of the next five years, with 2018 case sales seen rising to NZD 2.78 million from NZD 2.66 million in 2017 and reaching NZD 3.69 million in 2022. Based on budget exchange rates, the Group forecasts a 2018 operating profit result at least in line with this year's record performance.
Delegat Group Limited is a New Zealand-based wine company. The Company invests in wineries and vineyards in the prime grape growing regions of New Zealand and Australia. Its segments include Delegat Limited, Delegat Australia Pty Ltd, Delegat Europe Limited, Delegat USA, Inc. and Other Segments. Its wine brands include Oyster Bay, Barossa Valley Estate and Delegat. Its Oyster Bay brand wines include Oyster Bay Marlborough Sauvignon Blanc, Oyster Bay Marlborough Chardonnay, Oyster Bay Hawke's Bay Pinot Gris, Oyster Bay Marlborough Pinot Noir, Oyster Bay Marlborough Rose, Oyster Bay Hawke's Bay Merlot, Oyster Bay Sparkling Cuvee Brut and Oyster Bay Sparkling Cuvee Rose. Its Barossa Valley Estate brand wines include Shiraz, Grenache Shiraz Mourvedre, Cabernet Sauvignon, Malbec, Rose and Grenache. Its Delegat wines include Sauvignon Blanc, Chardonnay, Pinot Noir and Merlot. It sells and markets its products in New Zealand, Canada, United States, Europe, Asian and Pacific Island markets.
DELEGAT GROUP LIMITED 
