[5 December/ National Business Review]

Delegate Group, New Zealand’s largest listed winemaker, has increased its 2018 earnings guidance after benefiting from sales growth and a weaker kiwi dollar. The company announced that operating profit for the 12 months ending 30 June 2018 was expected to be $40.7 million, up from the existing forecast of $38.5 million. The company had a target of lifting sales to 3.69 million cases by 2022, driven by growth in sales of Oyster Bay wines in North America and Barossa Valley Estate.