8 hours Ago
Leading wine producer Delegat has lowered its earnings forecast by 16 percent because of the possible impact of US tariffs on sales. Delegat Group, well known for its Oyster Bay wine brand, said the tariff looks likely to affect sales for the last three months of the current financial year. "The introduction of a 10 percent tariff on imports imposed by the US Administration .
.. has resulted in significant uncertainty expressed by our US distributors regarding forward shipments for Q4 (April - June 2025).
" "This uncertainty has led to a revised global case sales and profit guidance," the company said in a statement to the NZX. Delegat revised its current year profit forecast to $47 to $50 million from $55 to $60 million. It also expected a 5 percent drop in global sales to about 3.
2 million cases. Delegat said the 2025 harvest has been of excellent quality and was up nearly 40 percent in volume on a year ago. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
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