LONDON (Alliance News) - English sparkling wine maker Gusbourne PLC on Thursday reported a widened interim loss on increased expenses.
In the six months ended June, Gusbourne's pretax loss widened to GBP906,000 from GBP815,000.
The wine maker, which has vineyards in West Sussex and Kent, increased its revenue to GBP429,000 from GBP378,000.
The company's administrative expenses, however, rose to GBP1.0 million from GBP746,000 the year before.
The higher expenses include GBP307,000 in depreciation, up from GBP220,000 last year, reflecting increased capital spending.
Added staff and "ongoing development" and growth of the company account for the rest of the increased costs.
New investment in the plant and vineyard equipment increased to GBP415,000 from GBP270,000 a year before.
Chief Winemaker & Chief Executive Officer Charlie Holland said: "Our results for the half year continue to show steady progress towards our goals for Gusbourne, in line with our strategy to further grow and develop the business in a manner which remains consistent with our long term aspirations for the Gusbourne brand.
"We intend to continue to produce and sell a range of vintage wines of exceptional quality from grapes grown in our own vineyards."
Shares in Gusbourne were untraded Thursday but last closed at 83.00 pence each.
Gusbourne (GUS)