English wine producer Chapel Down has reported a lift in sales and profits for the 12 months to December 31, 2023.

Full-year results, released today, echoed a trading statement from January. The company said net sales for the year lifted 15% to £17.9 million, while its traditional method sparkling wine sales grew 25% to £12 million, on a 13% lift in volumes. Gross profit increased 16% to £8.9 million.

The company flagged its listing on AIM last December to reflect the “maturity of the business and the ambitious growth plan”. Elsewhere, Chapel Down noted a “record” harvest in 2023, at 3,811 tonnes of grapes – 86% higher than 2022 (2,050 tonnes).

Chapel Down CEO Andrew Carter said: 2023 was a landmark year for English wine and Chapel Down. It is great to see the strategic and operational progress that we have delivered, and the continuing sales momentum that we have. In line with our 2023 targets, the business achieved double digit net sales revenue growth, driven by the exceptional performance of our traditional method sparkling wine and growth across all of our UK and international trade channels and our direct-to-consumer business.

“Chapel Down continues to grow profitably – a core strength which, along with our strong balance sheet, makes us resilient and underpins our ambitious future growth plans.”