Chapel Down boosted by record levels of brand awareness
Chapel Down has posted a sales uplift of 21% to £8.4 million in the first half of its financial year after achieving record levels of brand awareness.
In the six months to 30 June, off-trade sales were up 25% while on-trade net sales rose by 20% through increased distribution in premium outlets.
Direct-to-consumer sales increased to £2.1 million from £2 million in the prior year following online growth of 6% and strong sales at summer events.
Meanwhile, pre-tax profit rose by 26% to £618,000 and EBITDA by 36% to £1.2 million.
Andrew Carter, Chapel Down chief executive, said: “Consumers’ love for Chapel Down continues to grow with record levels of brand awareness and household penetration, as more people at home and abroad learn about our brand and our wines. This is fuelling strong and profitable growth across all our distribution channels.
The company said current trading is in line with management expectations as it looks ahead to delivering continued double digit net sales revenue growth and sustained margins for the full year.
Carter added: “We have a world-class team in place, are successfully executing our premiumisation strategy to support and grow our margins and have a strong balance sheet to enable us to meet our target of doubling the size of our business by 2026.”
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