Chapel Down posts successful first half-year results

Chapel Down
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Wine retailer Chapel Down reported strong half-year results, with revenue growing by 11% to £7.9m, driven by new listings and a strong Easter campaign.

The business saw its gross profit increase by 7% to £3.7m in the first half of the year.

Chapel Down’s adjusted EBITDA decreased by 23% to £1.2m because of the lower non-cash fair value adjustment of biological produce compared to the year prior.

James Pennefather, CEO of Chapel Down, said: “With over 1,000 acres of vineyards already planted in some of Kent’s finest terroir, Chapel Down has laid the foundations for sustained profitable growth in the medium term. I am therefore delighted at the progress this year that Chapel Down has made against this goal, ensuring that we have the winemaking capacity, strong brand and routes to market in place to deliver this.


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“We continue to see significant future potential both within the UK and in key export markets and believe that our leading brand remains well positioned to benefit from the positive consumer engagement we are seeing within the category.”

Moving forward, the wine manufacturer said it anticipates strong sales growth and a return to full profitability. The business experienced ideal summer conditions in the vineyards and now forecasts a high-quality vintage at a higher yield.

Additionally, the business appointed Michael Spencer as the new chair after Martin Glenn stepped down as chair and director of the company.

“Martin has made an invaluable contribution to Chapel Down, helping guide the business through a period of remarkable progress,” said Spencer.

”I look forward to continuing to build on this momentum.”

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Chapel Down posts successful first half-year results

Chapel Down

Wine retailer Chapel Down reported strong half-year results, with revenue growing by 11% to £7.9m, driven by new listings and a strong Easter campaign.

The business saw its gross profit increase by 7% to £3.7m in the first half of the year.

Chapel Down’s adjusted EBITDA decreased by 23% to £1.2m because of the lower non-cash fair value adjustment of biological produce compared to the year prior.

James Pennefather, CEO of Chapel Down, said: “With over 1,000 acres of vineyards already planted in some of Kent’s finest terroir, Chapel Down has laid the foundations for sustained profitable growth in the medium term. I am therefore delighted at the progress this year that Chapel Down has made against this goal, ensuring that we have the winemaking capacity, strong brand and routes to market in place to deliver this.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


“We continue to see significant future potential both within the UK and in key export markets and believe that our leading brand remains well positioned to benefit from the positive consumer engagement we are seeing within the category.”

Moving forward, the wine manufacturer said it anticipates strong sales growth and a return to full profitability. The business experienced ideal summer conditions in the vineyards and now forecasts a high-quality vintage at a higher yield.

Additionally, the business appointed Michael Spencer as the new chair after Martin Glenn stepped down as chair and director of the company.

“Martin has made an invaluable contribution to Chapel Down, helping guide the business through a period of remarkable progress,” said Spencer.

”I look forward to continuing to build on this momentum.”

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