Chapel Down expects full-year 2023 sales to be up 14% compared to 2022, as the off-trade continues to be the English wine producer’s largest channel.

The company, which listed on AIM last month, said net sales revenue for the 12 months to December 31 is expected to be £17.9 million. Its core traditional method sparkling wines grew both volumes and value in the period to reach 887,000 bottles and £12 million.

However, the company’s still wines saw sales slip 7% to £2.6 million in a “competitive market” and with the duty increases implemented last August.

Chapel Down said sales growth was spread across all trade channels, with the off-trade remaining the largest channel. Off-trade sales of traditional method sparkling lifted 21% in the period, strengthened by the introduction of Sparkling Rosé as well as expanded distribution.

The company said the average realised sales price rose 12% in the year, as the group furthers its premiumisation strategy.

Andrew Carter, Chapel Down CEO, said: “2023 was a landmark year for English wine and Chapel Down, and it is great to see the strategic and operational progress that we have delivered, and the continuing sales momentum 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 with growth across all our UK & International trade channels and our direct-to-consumer business.”

The company also reiterated its intention to exit spirits in Q1 2024 – spirits sales dropped 7% in the period to £0.6 million.