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Gusbourne PLC - Ashford, Kent-based sparkling wine maker - Total net revenue for 2023 is estimated about £7.1 million, up about 13% from £6.2 million in 2022. This is driven by UK wine sales of £5.0 million, up about 17% from £4.2 million. Gusbourne says international sales rise by about 7% to £1.5 million, accounting for 23% of total net wine sales, up from 22% in 2022. Gusbourne also makes revenue from winery tours. Adjusted loss before interest, tax, depreciation and amortisation is expected to have narrowed from £1.1 million in 2022, as gross margin increases to about 68% from 59%, thanks to ‘improved price and sales mix dynamics’. Net debt on December 31 is about £17.8 million, with refinancing of debt completed last year. ‘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,’ comments Chief Executive Officer Jonathan White. Current stock price: 69.00 pence 12-month change: down 5.5% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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