{"id":479828,"date":"2026-06-16T09:08:10","date_gmt":"2026-06-16T09:08:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/479828\/"},"modified":"2026-06-16T09:08:10","modified_gmt":"2026-06-16T09:08:10","slug":"delegat-lifts-earnings-guidance-on-strong-global-wine-sales","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/479828\/","title":{"rendered":"Delegat lifts earnings guidance on strong global wine sales"},"content":{"rendered":"<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">The upgrade comes as the key winegrowing region of Marlborough grapples with an oversupply of grapes.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">In ASB\u2019s Regional Economic Scoreboard for the March quarter, Marlborough was at the bottom, ranking 16th.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">The bank noted wine is a cornerstone of the Marlborough economy both in terms of GDP contribution and job creation.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">\u201cIn the near term, the 2026 vintage has delivered excellent fruit across all subregions, with winemakers reporting beautiful late summer and autumn conditions,\u201d ASB said.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">\u201cDespite this, the sector is navigating a <a href=\"https:\/\/www.nzherald.co.nz\/business\/companies\/agribusiness\/new-zealand-winegrowers-leave-grapes-unpicked-as-supply-hangover-bites\/premium\/3Y3JKLTEK5CYXHC3D6ODRP4BRQ\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/business\/companies\/agribusiness\/new-zealand-winegrowers-leave-grapes-unpicked-as-supply-hangover-bites\/premium\/3Y3JKLTEK5CYXHC3D6ODRP4BRQ\/\">difficult period<\/a> ahead, with structural oversupply weighing on growers\u2019 profitability and export returns.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">\u201cMany growers are looking to cut production by mothballing vines, and the road back to profitability is expected to be slow as the sector works to rebalance supply with demand.\u201d<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">At the start of trading on the NZX, Delegat Group shares rallied by 46c or 12.6% to $4.10 on the news.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our\u00a0<a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a>\u00a0\u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The upgrade comes as the key winegrowing region of Marlborough grapples with an oversupply of grapes. In ASB\u2019s&hellip;\n","protected":false},"author":2,"featured_media":479829,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,241408,127,4568,1437,200208,209,36996,305,5345,13419,25619,111,139,69,58416,90,27644,12064,667,18835,1754,29154,379],"class_list":["post-479828","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-delegat","tag-despite","tag-earnings","tag-global","tag-grapes","tag-group","tag-guidance","tag-have","tag-increase","tag-june","tag-lifts","tag-new-zealand","tag-newzealand","tag-nz","tag-nzxlisted","tag-on","tag-oversupply","tag-prompted","tag-sales","tag-strong","tag-wine","tag-winemaker","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/479828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=479828"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/479828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/479829"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=479828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=479828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=479828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}