Oyster Bay owner Delegat says NZ harvest up 33% on 2015
The total harvest was 35,837 tonnes.
Delegat Group [NZX: DGL], the winemaker that retails under brands including Oyster Bay, says it has completed the 2016 harvest, with yields in New Zealand up 33% on a difficult 2015.
The total harvest was 35,837 tonnes, with New Zealand making up 33,236 tonnes of the total.The group also owns vineyards in the Barossa Valley in South Australia, which yielded 2601 tonnes, up 56% on a year ago.
Last month Rabobank said it expected wine production volumes in New Zealand to be significantly higher than in 2015 when unseasonably cool weather led to a much lower harvest.
Delegat managing director Graeme Lord said the 2016 vintage "has delivered excellent quality in all regions with ideal weather conditions prevailing throughout the growing season." It says it will have appropriate inventory to achieve planned future sales growth of 3.17 million cases by 2020. The company is focusing on boosting sales in North America and growing the Barossa Valley Estate brand worldwide to hit those numbers.
Delegat stock rose 0.2% in trading at $6. They've risen 1.5% since the start of the year.
(BusinessDesk)
Edwin Mitson
Fri, 13 May 2016
Fri, 13 May 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Oyster Bay owner Delegat says NZ harvest up 33% on 2015
58119