Delegats shares slump after earnings miss estimates

Shares in Delegat’s Group, the New Zealand winemaker which has been snapping up the distressed assets of rivals, slumped 7.2 per cent to a four-month low after weaker than expected earnings. Delegat’s plunged 30 cents to $3.85, the lowest since May 1, although just 2,371 shares changed hands at the lower price. Delegat’s operating profit rose 3 per cent to $26.3 million in the 12 months ended …

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