Trading Update

RNS Number : 4154N

Gusbourne PLC

01 February 2021

 

1 February 2021

Gusbourne Plc

("Gusbourne" or the "Company")

Year End Trading Update 

Gusbourne Plc (AIM: GUS), the English sparkling wine producer, provides the following unaudited trading update for the 12 months to 31 December 2020.

Highlights

· Net revenue ⁽¹⁾ for the year ended 31 December 2020 is expected to be up by 29% to c. £2.1m (2019: £1.7m), reflecting the previously reported 24% like for like growth in H1, and expected like for like growth in H2 of 33%.

· Demonstrates a 5 year net revenue CAGR of 35% (2015 to 2020). 

· Significant growth in sales from direct to consumer (DTC) and overseas sales channels as Gusbourne adapted to the impact from COVID-19 on UK on-trade and off-trade sales channels. DTC sales for the year are expected to represent c. 30% (2019: 19%) of net revenue for the year and overseas sales are expected to represent c. 32% (2019: 22%). We plan to continue to invest in the growth and development of DTC and overseas sales over the next few years.

· Ongoing success in international wine competitions, receiving a further 40 medals in 2020 including fourteen gold medals, four trophies, and the Judges Selection Medal in the prestigious Texsom awards in the United States.

Charlie Holland, Gusbourne's CEO and Chief Winemaker commented:

"We are delighted to have achieved another year of strong overall sales growth with particularly pleasing performance in the DTC and overseas sales channels. A successful harvest in the autumn of 2020 has added to our wine stocks for future resale and we have strengthened the balance sheet with a new long-term asset-based lending facility from PNC.

We remain enormously excited about the opportunity to build the Gusbourne brand across all markets, producing the finest vintage English Sparkling Wine using only grapes grown in our own vineyards whilst focusing on the luxury end of the sector."

⁽¹⁾ Net revenue is revenue reported by the Company, net of excise duties payable, and before grants receivable.

For further information contact:

Gusbourne Plc

Charlie Holland  [phone] 

Canaccord Genuity Limited (Nomad and Joint Broker)

Bobbie Hilliam   [phone]

Georgina McCooke

Panmure Gordon (UK) Limited (Joint Broker)                         [phone]

Oliver Cardigan

Hugh Rich

Joanna Langley

Note: This announcement and other press releases are available to view at the Company's website: www.gusbourneplc.com

Note to Editors

Gusbourne produces and distributes a range of high quality and award winning vintage English sparkling wines from grapes grown in its own vineyards in Kent and West Sussex.

The Gusbourne business was founded by Andrew Weeber in 2004 with the first vineyard plantings at  Appledore in Kent. The first wines were released in 2010 to critical acclaim. Following additional vineyard plantings in 2013 and 2015 in both  Kent and  West Sussex,  Gusbourne now has 231 acres of mature vineyards. The NEST visitor centre was opened next to the winery in Appledore in 2017, providing tours, tastings and a direct outlet for our wines.

Right from the beginning, Gusbourne's intention has always been to produce the finest English sparkling wines. Starting with carefully chosen sites, we use best practice in establishing and maintaining the vineyards and conduct green harvests to ensure we achieve the highest quality grapes for each vintage. A quest for excellence is at the heart of everything we do. We blind taste hundreds of samples before finalising our blends and even after the wines are bottled, they spend extended time on their lees to add depth and flavour. Once disgorged, extra cork ageing further enhances complexity. Our winemaking process remains traditional, but one that is open to innovation where appropriate. It takes four years to bring a vineyard into full production and a further four years to transform those grapes into Gusbourne's premium sparkling wine.

We are one of England's most awarded wine producers. Highlights include:

· Three times winner of the International Wine & Spirits Challenge (IWSC) English Wine Producer of the Year, having won the award in 2013, 2015 and 2017- a unique achievement

· Highest rated English sparkling wine by the Wine Enthusiast in 2020

· Trophy for best English Still Red Wine at Wine GB awards for past 3 years

· Best in Class trophies at the Champagne & Sparkling World Championships in both 2018 and 2019

·   ' Best English Sparkling Wine' as well as overall 'IWC China Champion Sparkling Wine 2019' at the International Wine Challenge held in Shanghai

 

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