8th December 2021 Delegat Group / NZ King Salmon / Scales
New Zealand King Salmon and Scales have upgraded their earnings forecasts citing improving conditions and strong ingredients performance respectively.
The chair of winemaker Delegat Group, Jim Delegat, is moving from the role of executive chairman to executive director from 1 February 2022.
Winemaker Delegat Group says it will invest $29.7m in FY22 to provide earnings growth in the years ahead.
Delegat Group and Foley Wines both deliver record operational results, despite pandemic disruption.
Delegat Group has released its unaudited numbers for the 2021 year, but warned the official numbers are likely to be worse when they come out in late August.
The group says the vintage would deliver “excellent quality wines” for its brands.
Former managing director Graeme Lord has stepped in as the winemaker looks to replace John Freeman, who resigned in February.
Strong global sales growth saw the winemaker’s interim profit leap 31% in a record-breaking run to the end of 2020.
Online growth and investment in technology and sales teams also helped the winemaker to a record year.