- What does the Harvest update 2021 entail?
- How have these wine stocks performed of late
- Have a look at their latest updates to find out more.
Without a doubt, as one of the most versatile commodities, Wine is something that has done well throughout last year. Even though there were transport restrictions and border closures to be dealt with due to the ongoing surge of COVID-19 cases, the wine industry performed surprisingly well. The online presence of certain brands also increased to ensure that people got their choicest blends in the comfort as well as safety of their homes.
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Let us have a look at what these brands have witnessed in the recent times.
Marlborough Wine Estates (NZX:MWE)
One of the biggest wine producers in the country, Marlborough Wine Estates, is known to have had a good run in the last 6 months as compared to the pcp. In its latest update about the harvest, it announced that even though the 2021 harvest was about 26% lower than pcp, it was going to be written as one of the best harvests because the time period that the Company had it had utilised in improving the quality and variety of the blends. The lull in the trade helped the quality of wine to improve as it got more time to age.
On April 30, Marlborough Wine Estates traded at NZ$0.300 at the time of writing.
Foley Wines Limited (NZX:FWL)
Another big wine name in the country, Foley Wines, has witnessed growth in the recent past. It fought through COVID-19 effects and was able to secure an 8% increase in case sales. In the month of December alone, the company witnessed a 14% growth in various brands as compared to the 3.2% decline witnessed in the category of still wine. The CEO of Foley Wines, Mark Turnbull, was of the view that even though the previous 9 months had been tough, the Company had come out victorious, and with the help of the new marketing and distribution techniques, the brand should reach new heights in the upcoming time.
On April 30, Foley Wines Limited traded at NZ$1.800, up by 0.56% at the time of writing.
Delegat Group Limited (NZX:DGL)
With operations in different countries, this global wine company is based out of New Zealand. It has recently announced in its harvest 2021 update that the quality of wine delivered in various regions had been of excellent level. The recorded harvest was 37,470 tonnes, which was 2% lower than that of last year. The vintage varieties have performed particularly well.
On April 30, Delegat Group Limited traded at NZ$14.650, up by 1.74% at the time of writing.