- Release Date: 16/07/13 14:24
- Summary: FORECAST: DGL: 2013 Harvest Announcement and Performance Guidance Update
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DGL 16/07/2013 12:24 FORECAST REL: 1224 HRS Delegat's Group Limited FORECAST: DGL: 2013 Harvest Announcement and Performance Guidance Update Delegat's Group Limited announces that it has concluded the 2013 harvest which amounted to 28,884 tonnes, in line with forecast and up 42% on the low yielding 2012 vintage. This includes 1,271 tonnes from acquired productive vineyards during the year. The 2013 harvest has delivered on-target yields and in line with previous guidance. The season has delivered exceptional quality fruit as a result of ideal weather conditions throughout the 2012/13 growing season. Jim Delegat, Managing Director, Delegat's Group Limited says "the Group has closely managed its inventory throughout the 2013 financial year. The higher 2013 harvest provides us the opportunity to rebuild our depleted carry-forward inventory levels for Chardonnay, Pinot Noir and Merlot. The Marlborough Sauvignon 2013 vintage was released in early June". The Group is confident in its ability to deliver a strong performance in 2013 financial year having maintained in-market case price realisation and case sales volumes in an environment of continued foreign exchange headwinds. The Group's 'operating profit' will be in line with the previous market guidance, albeit having incurred acquisition costs for the purchase of Barossa Valley Estate Pty Limited. The Group anticipates that the 'reported profit' will be significantly higher this year through the impact of New Zealand IFRS fair value adjustments, particularly the net harvest provisions for the current year vintage. ENDS For further information please contact: Jim Delegat Managing Director and Chief Executive Officer Delegat's Group Limited Telephone 64 9 359 7300 Email: [email protected] End CA:00238636 For:DGL Type:FORECAST Time:2013-07-16 12:24:22
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