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Chapel Down results deliver healthy fizz

Chapel Down

Chapel Down

Profits at Kent-based winemakers Chapel Down, whose shares trade on ISDX, soared by 175 per cent in the year ending December as large harvests poured through to the bottom line.

Revenues in the company grew by 21 per cent during the period, reaching a record £6.1m and leading to pre-tax profits of £187,000.

The Tenterden-based company also saw a healthy rise in sales of its Curious Brew craft beer, up 43 per cent year-on-year.

The company secured nearly £4m through crowdfunding in September last year after working closely with Cripps, the county’s leading law firm and principle partner of Locate in Kent.  

Chapel Down is optimistic about the outlook, saying it had used the money to secure new vineyards and develop new products.

“We are ever more confident of an exciting and rewarding future for the group,” said chairman John Dunsmore.

 

 

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