Grape prices 'on plateau'

Grape prices are likely to remain near current levels for the next two to three years and further declines in vineyard asset prices are likely, Delegat's Group told shareholders at its annual meeting yesterday.

The company that has positioned its Oyster Bay brand in the super-premium market said its sales performance for the full-year will be ahead of forecast and its half-year operating result is ahead of plan.

The company is forecasting operating net profit after tax of between $23 million and $26 million.