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.
Current stock price: 73.00 pence, up 2.1% on Tuesday
12-month change: up 2.8%
By Tom Waite, Alliance News editor
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Gusbourne (GUS)