Chapel Down benefits from growing demand for English sparkling wines
English wine maker Chapel Down has said its first half performance was in line with expectations as it continued to see strong sales growth in sparkling wines.
Revenue across the business was flat year-on-year in the six months to 30 June reflecting the impact of the lower availability of still wine following last year’s harvest.
During the period, Chapel Down benefited from brand activations linked to the Platinum Jubilee and its sponsorships of the England & Wales Cricket Board, The Boat Race and Ascot.
Chapel Down said favourable conditions so far this year point to a promising 2022 harvest at its 750 acres of vineyards.
Looking ahead, the company said it is well-positioned to meet its target of doubling the size of the business over the next five years.
It added: “Notwithstanding the current macroeconomic uncertainty, the outlook for 2022 remains positive with forecast revenue growth resulting from the growth in demand for English sparkling wines and the strength of our Chapel Down brand along with margin enhancement resulting from the price increases and management of inflationary costs pressures. “
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