Gusbourne PLC Trading Update (4154N)
February 01 2021 - 2:00AM
UK Regulatory
TIDMGUS
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. GBP2.1m (2019: GBP1.7m), 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 +44 (0)1233 758 666
Canaccord Genuity Limited (Nomad and Joint Broker)
Bobbie Hilliam +44 (0)20 7523 8000
Georgina McCooke
Panmure Gordon (UK) Limited (Joint Broker) +44 (0)20 7886 2500
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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