Appledore-based English winemaker Gusbourne reports double-digit growth in financial figures for 2023
Published: 08:25, 29 May 2024
Updated: 12:21, 29 May 2024
Winemaker Gusbourne is raising a glass to its success after its latest financial figures revealed continued growth in sales and revenues.
The Appledore-based vineyard saw a 16.5% increase in UK sales in the last calendar year with net revenue up 13% and gross profit up to £4.1 million - a 30% increase.
Its international sales also rose by 7% to £1.5m, while direct-to-consumer sales at its Kent base increased by 18% to £2m.
Having harvested its biggest yield of grapes last summer, it says it expects to see that growth increase during 2024 as it looks to build on the 35 international markets its wine is now sold.
Jonathan White, who was appointed chief executive earlier this year, said: “Trading in 2024 has continued in line with our expectations.
“Whilst the macro-economic environment remains complex with subdued consumer confidence still causing hesitancy and cautiousness in many markets, consumer interest in Gusbourne and English wine generally continues to grow across the globe, strengthening our confidence in the group’s future prospects.
“We expect to benefit from increased supply and inventory in the year ahead as our wines produced from mature vineyard holdings have aged in the cellar, and the ongoing expansion of our international presence, with two new markets already opened in 2024.
“In 2023 we harvested our biggest yield to date with chardonnay, pinot noir and pinot meunier grapes showing fine expressiveness and we expect them to produce some outstanding wines, which will be bottled during the summer of 2024, further adding to our inventory levels for sale in future years.”
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Chris Britcher