Sparkling wine-maker Gusbourne feeling bubbly after bumper profits
English sparkling wine maker Gusbourne saw gross profits hit £3.6m this morning up 58 per cent, as Brits continued to pop open a bottle despite cost-of-living concerns.
The Kent and Sussex-based wine producer saw net revenues up 49 per cent to £6.2m in its 2022 final year results and narrowed losses to £1.1m, a 22 per cent drop compared to the previous period.
CEO and chief winemaker Charlie Holland said: “Despite a challenging macroenvironmental backdrop, we have continued to see significant consumer demand for Gusbourne wines, reflecting the luxury status of the Gusbourne brand and the underlying growth of the dynamic English wine sector.”
“We have seen strong revenue growth across all our sales channels, both in the UK and internationally, as the quality of Gusbourne’s wines continue to gain praise and critical recognition.”
Brits appetite for premium wines saw UK trade sales up 53 per cent to £3.6m, with international sales also seeing bumper growth of 78 per cent, up to £1.39m.
The group said it was eyeing up planting new vineyards to add to its Kent sites in 2024, with a further 55 hectares of freehold land already acquired last year.
Holland added: “With these strong results, a fantastic harvest in 2022, the purchase of new land during the year and healthy inventory levels in our cellars, 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.”
2022 marked the wine-makers first full year without Covid restrictions and the signs had been positive, with significant sales growth reported in February.