Chapel Down Announces Half Year Results 2018


DOWNLOAD A COPY OF THE INTERIM RESULTS


Chapel Down Group PLC is pleased to announce the Company’s Interim Results for the six month period ended 30th June 2018.

Key highlights include:
• Year on year sales up 15% to £5.716m (H1 2017: £4.977m)*
o Chapel Down Wines and Spirits sales up 19% to £3.981m (H1 2017: £3.345m)
o Curious Drinks Ltd Beer and Cider sales are up 6% to £1.735m (H1 2017: £1.632m)
• Wines and Spirits Gross Profit up 24% at £1.572m (H1 2017: £1.271m)
• Beer and Cider Gross Profit down 2% at £0.545m (H1 2017: £0.558m)
• EBITDA of £216k (H1 2017: £235k) as we continue to reinvest in our brands, infrastructure and supply
• A Gold Outstanding medal at The International Wine and Spirits Challenge 2018 Awards for our Kit’s Coty Coeur de Cuvee 2013 along with a Gold for our Kit’s Coty Blanc de Blancs and Gold medals at The Decanter World Wine Awards for our Kit’s Coty Blanc de Blancs and Kit’s Coty Coeur de Cuvee 2013 and our still Chardonnay 2013
• Additional 102 acres of new vineyards planted on chalk terroir in Kent
• Brewery build commenced and scheduled for completion in March 2019
• In September we exchanged on an Agreement to Lease a further 388 acres of prime viticultural land adjoining our existing vineyards on the North Downs
• In September we exchanged on an Agreement to Lease a 5,000 sqft site in King’s Cross, London by the Regent’s Canal where we will, subject to planning and licencing, be opening the “Chapel Down Gin Works” an experiential bar, restaurant and Gin Works

* Total of Wine, Beer and Cider sales

Frazer Thompson, Chief Executive, said:

“The first half of 2018 has seen considerable change in the drinks industry. We have seen the collapse of Conviviality and subsequent re-birth of Matthew Clark and Bibendum at C&C. We saw a surprisingly long football World Cup and the best summer weather for decades. We have seen considerable change in grocery retail and challenges on the High Street and in Casual dining. We continue to see pubs closing. We can see there is more change to come. Yet at Chapel Down we also see more innovation and excitement and opportunity than ever before.