Gusbourne Share News (GUS)

IN BRIEF: Gusbourne sparkling wine sales rise in 2023, narrowing loss

Gusbourne PLC - Ashford, Kent-based sparkling wine maker - Total net revenue for 2023 is estimated about GBP7.1 million, up about 13% from GBP6.2 million in 2022. This is driven by UK wine sales of GBP5.0 million, up about 17% from GBP4.2 million. Gusbourne says international sales rise by about 7% to GBP1.5 million, accounting for 23% of total net wine sales, up from 22% in 2022. Gusbourne also makes revenue from winery tours. Adjusted loss before interest, tax, depreciation and amortisation is expected to have narrowed from GBP1.1 million in 2022, as gross margin increases to about 68% from 59%, thanks to "improved price and sales mix dynamics". Net debt on December 31 is about GBP17.8 million, with refinancing of debt completed last year.

IN BRIEF: Gusbourne seals GBP20 million refinancing

Gusbourne PLC - Ashford, England-based sparkling wine producer - Completes refinancing of debt arrangements held with PNC Financial Services UK Ltd and a company associated with Lord Ashcroft, through issue of a new GBP20 million long-term secured deep discount bond. New deal is with a company also associated with Lord Ashcroft, Moongate Holdings Group Ltd. Explains that the GBP20 million proceeds have been used to repay the existing PNC Facility amounting to GBP16.3 million, and repay the short-term unsecured loan of GBP1.5 million plus related fees and expenses of GBP0.6 million. Remaining proceeds will be used for working capital and to support Gusbourne's ongoing growth strategy. Financing issued at a discount of 7.75% per year on quarterly rests.

Gusbourne promotes marketing director Jonathan White to CEO

(Alliance News) - Gusbourne PLC on Wednesday announced it has promoted its marketing director, Jonathan White, to chief executive officer.

TRADING UPDATES: Billington on track to beat 2023 expectations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

IN BRIEF: Gusbourne expects highest yield to date with 2023 harvest

Gusbourne PLC - Ashford, England-based sparkling wine producer - Says 2023 harvest is now complete, and is its biggest yield to date. Credits "warm growing season" for the "abundance of fruit".

Gusbourne interim loss widens but optimistic for full year

(Alliance News) - Gusbourne PLC on Thursday said it expects "strong" growth in 2023 despite posting an increased loss for the first half of the year amid higher administrative expenses.

Gusbourne appoints non-executive director Mike Paul as interim CEO

(Alliance News) - Gusbourne PLC on Wednesday said that a non-executive director, Mike Paul, has been appointed as interim chief executive officer.

IN BRIEF: Gusbourne CEO Charlie Holland resigns, board begins search

Gusbourne PLC - Ashford, England-based sparkling wine producer - Says Chief Executive Officer Charlie Holland will be stepping down from his position, with effect from September 6. The board will now begin the search process for a new CEO, and a further announcement will be made in due course.

UK shareholder meetings calendar - next 7 days

Gusbourne narrows loss as revenue grows across all sales channels

(Alliance News) - Gusbourne PLC on Wednesday reported an improved annual loss as it boasted "significant" consumer demand for its wines.

IN BRIEF: Gusbourne founder and 'guardian of the vines' leave board

Gusbourne PLC - sparkling wine maker in Kent and West Sussex, England - Three board members step down, while Chief Financial Officer Katharine Berry joins. Founder Andrew Weeber retires as non-executive director, effective immediately. Weeber planted the first vines for Gusbourne after purchasing the Appledore estate in Kent in 2003. Additionally, Jon Pollard, the 'guardian of the vines', leaves the board but remains as chief operating officer. CFO Berry joined Gusbourne in August last year.

IN BRIEF: Gusbourne buys more land as sparkling wine sales grow

Gusbourne PLC - Ashford, Kent-based sparkling wine maker - Says trading remains in line with expectations in 2023, after net revenue rose by 48% to GBP6.2 million in 2022 from GBP4.2 million in 2021. Improvement in top line is due to growth in all three main sales channels - direct-to-consumer, UK trade sales, and international trade sales - and a strong Christmas, Gusbourne says. Net debt as of December 31 was about GBP12.5 million. Gusbourne notes it purchased 55 hectares of new land last year, increasing its freehold land to 196 hectares. "With these results, a fantastic harvest in 2022 and further land purchases made during the year, the board continues to look to the future with great confidence as we further strengthen our position as one of the UK's most significant fine wine producers," says Charlie Holland, chief executive officer & chief winemaker.

TRADING UPDATES: Gusbourne toasts vintage; Hardide supplies Leonardo

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

EARNINGS UPDATES: Crestchic raises outlook on record year-to-date

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

IN BRIEF: Gusbourne hires former Atom Supplies director Berry as CFO

Gusbourne PLC - Kent-based sparkling wine producer - Hires Katharine Berry as its new chief financial officer, effective from September 19. Says she is expected to be appointed to the board in due course.