Delegat toasts a steep after-tax profit rise
Friday, 27 February 2026
Global wine company Delegat Group grew its after-tax profit by 82% to $22.8 million in the six months to December 31.
The wine maker and exporter increased its sales revenue in the period by just 1% to $179.6 million, and its operating after-tax by 5% to $29.7 million.
Delegat, which also produces Oyster Bay and Barossa Valley Estate wines, said its steep increase in profits was due to higher case sales, lower cost of goods associated with the 2025 vintage and favourable foreign exchange movements.
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The group achieved global sales of 1.69 million cases over the six month period - a 3% increase on volumes in the previous half-year.
Delegat chief executive Murray Annabell said the company had “a solid sales performance” across the majority of its markets.
“The group’s sales continue to be well diversified by market, with 43% in North America, 33% in the United Kingdom, Ireland and Europe, and 24% in Australia, New Zealand, China and the Asia Pacific region,” Annabell said.
He said over the six months, Delegat was able repay debt of $21.6m, with net debt now sitting in the range of just over $30m.
The company has an asset base of $1.1 billion, including vineyards in Marlborough and Hawke's Bay regions, as well as the Barossa Valley in Australia.
“The Group’s distribution channels and world-class viticulture and winemaking assets already provide strong foundations for growth,” said Annabell.
About $10.9 million was invested in property, plant, and equipment in the first six months of FY26, including vineyard and winery developments in New Zealand, she said.
Delegat expects its operating profit to be in the range of $50-$55 million for the full FY26 year.
The company’s stock is trading at $4.28, down from about $4.80 at this time last year.