Gusbourne sales up 25% in UK
Gusbourne, the premium English sparkling wine producer, has announced its unaudited results for the six months ended 30 June 2023, reflecting another solid performance for the company, and a boost for the English wine sector in general.
UK wine sales growth in H1 was up 25% for Gusbourne, reflecting continued strong sales growth across its direct-to-consumer and UK trade sales channels.
This coincided with the introduction of several new wines including the limited-edition single vineyard sparkling wines, a sweet wine and a still rosé.
However, Gusbourne, which now distributes to 33 countries worldwide, saw a 7% decline in international sales in H1. According to the company, this was in part due to high levels of stock in two of its larger markets at the start of the year, which led to a different phasing pattern for the year. In more recent months, international trading is said to have improved.
In the H1 Gusbourne received over 30 awards for its wines with highlights including Estate Winery of the Year for the third consecutive year at the Wine GB awards and Best In Show for the 2018 Blanc de Blancs at the Decanter World Wine Awards.
Eager to maintain this positive momentum, Gusbourne has also taken this opportunity to announce the commencement of its 2023 harvest, which is said to be, “bumper in volume and quality.”
Mike Paul, interim CEO, said: “I am pleased to report another solid performance in the first half of 2023 where Gusbourne delivered further growth and execution of our strategy. Despite a challenging macroeconomic backdrop, we have continued to see significant consumer demand for Gusbourne wines with double-digit sales growth, assisted by the luxury status of the Gusbourne brand.
“The first quarter of the year was soft across the industry and our international sales were held back by higher than normal inventory levels – momentum improved during the second quarter. I am particularly pleased with our gross margin improvement, reflecting hard work on our pricing position, product offer and distribution mix.
“Whilst we are mindful of the current economic headwinds, with these strong results, an anticipated good harvest in 2023, new land purchases made during last year and healthy inventory levels in our cellars, the board continues to look to the future with great confidence as we further strengthen our position as one of the UK's most significant fine wine producers.”
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