English sparkling wine producer Gusbourne has reported double-digit sales growth for the 12 months to December 31, 2023.
In a trading update today the company said that total net sales for 2023 are expected to rise 13% to £7.1 million. UK wine sales growth is set to be up around 17%, to £5 million. Meanwhile, full year adjusted EBITDA loss “has narrowed from the prior year”. The company reported an adjusted EBITDA loss of £1.1 million in 2022.
Performance across the company’s three main channels saw direct to consumer sales grow 26%, UK trade sales lift 13% to £3.4 million and international sales rise 7% to £1.5 million.
CEO Jonathan White, who took up the post this month, said: “These results have been achieved against a difficult macroeconomic environment, which ultimately resulted in more challenging trading conditions for the luxury goods sector in the second half of the year.
“Despite this backdrop we have continued to see significant consumer demand for Gusbourne’s wines with robust growth across all three of our sales channels, underpinned by the careful and continued investment in the brand and the commitment and dedication of our talented team.”
The company also announced this week that Mary Bridges has been appointed head winemaker. Bridges was promoted to oenologist in 2020, having joined the Gusbourne winemaking team in 2018, and has spent the last six years working closely with former head winemaker, Charlie Holland.