Gusbourne PLC - Kent, England-based, sparkling wine producer - Reports significant growth in sales from direct to consumer and export channels offsetting traditional channels following the impact of Covid-19 on traditional UK trade channels. For half-year to June 30, revenue rises to GBP890,000 from GBP716,000 last year, pretax loss widens to GBP1.6 million from GBP1.1 million. Company says losses were in line with expectations and long-term development strategy based on continuing sales growth of the Gusbourne wines, supported by increasing wine stocks remains intact. Gusbourne focused on achieving a positive cashflow during the course of the next few years and has experienced strong start to trading in the first three months of the year with revenue performance ahead of directors' expectations.
Current stock price: 57.50 pence
Year to date change: down 35%
By Arvind Bhunjun; email@example.com
Copyright 2020 Alliance News Limited. All Rights Reserved.