Announcement
HALFYR: DGL: Delegat's deliver record results for half year
08:30am
DGL
19/02/2009
HALFYR
REL: 0830 HRS Delegat's Group Limited
HALFYR: DGL: Delegat's deliver record results for half year
DELEGAT'S GROUP LIMITED
Results for announcement to the market
Reporting Period 6 months to 31 December 2008
Previous Reporting Period 6 months to 31 December 2007
Amount (000s) Percentage change
Revenue from ordinary activities $127,324 49%
Profit from ordinary activities after tax attributable to shareholders
$15,668 146%
Net profit attributable to shareholders $15,668 146%
Audit The financial statements attached to this report have not been
audited.
Comments Refer to the Chairman's Report appended.
Interim Dividend Cents per share Cents per share (imputed)
Not Applicable Not Applicable
Net Tangible Assets per share
Current Year Previous corresponding year
Net Tangible Assets per share $1.52 $1.29
DELEGAT'S GROUP LIMITED
CHAIRMAN'S REPORT FOR 6 MONTHS ENDED 31 DECEMBER 2008
On behalf of the Board of Directors I am pleased to report the unaudited
results for Delegat's Group Limited for the six months ended 31 December
2008. The Interim Report has been prepared in accordance with the New Zealand
equivalents to International Financial Reporting Standards (NZ IFRS) and
should be read together with the published financial statements for the year
ended 30 June 2008, particularly the notes to the financial statements.
Total Revenue for the period under review is $127.3 million, an increase of
49% on the $85.5 million generated in the same period last year. Earnings
before interest, taxation, depreciation and amortisations (EBITDA), at $34.2
million is 54% ahead of the same period last year of $22.3 million. Net
profit for the period of $15.7 million is 146% ahead of the $6.4 million
earned in the same period last year.
Of particular note is the increase in the cash flow generated from operations
of $23.4 million, up $16.0 million from the $7.4 million generated in the
same period last year - an increase of 217%.
Having established itself as a global marketer of super premium wine
Delegat's continues to demonstrate its ability to achieve volume and value
growth - testimony to the valuable niche that has been established for its
Oyster Bay brand. While acknowledging the current international economic
climate the Directors remain confident that strong global demand for
Delegat's wines will continue.
As at the date of this report, the outlook for the 2009 harvest is the best
for many years. The spring growing conditions have been favourable and the
anticipated yield and quality of the fruit is expected to be excellent.
In December 2008 the Company celebrated being awarded the prestigious Company
of the Year Award in the Deloitte / Management Magazine Top 200 Awards,
having been nominated in two separate categories for business excellence.
Delegat's joins an illustrious group of major New Zealand companies who have
been past recipients.
RL Wilton
Chairman
19 February 2009
End CA:00176280 For:DGL Type:HALFYR Time:2009-02-19:08:30:11
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