Trading Update

RNS Number : 2237B

Gusbourne PLC

10 February 2022

 

10 February 2022

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 2021.

Highlights

· Net revenue ⁽¹⁾ for the year ended 31 December 2021 is expected to be up by 95% (2020: 29%) to c. £4.1m (2020: £2.1m and 2019: £1.7m), reflecting continued and accelerating sales growth. The expected like for like growth in H2 was more than double the prior year at c. 120%.  

· Demonstrates an increased 5-year net revenue CAGR of 45% between FY 2016 and FY 2021 up from 35% between FY 2015 and FY 2020. 

· Significant growth in UK Trade sales as the sector continued to recover from the prior year effects of COVID-19.  Direct to consumer (DTC) also showed strong growth driven by online sales and cellar door operations in Kent. DTC sales for the year are expected to represent c. 28% (2020: 30%) of net revenue for the year and UK Trade sales are expected to represent c. 51% (2020: 37%) with International Sales at 21% (2020: 33%).

· Ongoing success in international and UK wine competitions with a total of 42 new medals, including twelve golds. Particular highlights include a platinum medal at the Decanter World Wine Awards, the Judges Selection Medal in the prestigious Texsom awards in the United States in May, and trophies for 'Best Chardonnay' and 'Winery of the Year' at the WineGB awards in September.

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

"We are delighted to have almost doubled our revenues as customer numbers continue to increase across all major sales channels. This, together with the fundraising at the end of last year and a significantly strengthened balance sheet, allows us to look confidently to the future as we continue to invest in building our brand and strengthening Gusbourne's position as one of the UK's most significant producers of fine English wine."

⁽¹⁾ Net revenue is revenue reported by the Company after excise duties payable

For further information contact:

Enquiries:

Gusbourne Plc

Charlie Holland    [phone]

Canaccord Genuity Limited (Nomad and Joint Broker)

Bobbie Hilliam   [phone]

Georgina McCooke

Panmure Gordon (UK) Limited (Joint Broker)   

Oliver Cardigan  + 44 (0)20 7886 2500

Hugh Rich

Ailsa Macmaster

This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). In addition, market soundings (as defined in MAR) were taken in connection with the matters referred to above as a result of which certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received such inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

Note: This and other press releases are available 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

· Winner of 'Winery of the Year' trophy at the 2021WineGB competition

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

· Trophy for best English Still Red Wine at Wine GB awards 2018-2020

· 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

Gusbourne's luxury brand enjoys premium price positioning, and its wines are distributed in some of the finest establishments both in the UK and abroad. Our wines can be found in leading luxury retailers, restaurants, hotels and stockists, always being aware that where we are says a lot about who we are.

 

END

 

 

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