25th Jun 2024 09:51
(Alliance News) - Chapel Down Group PLC on Tuesday said it remained on track for double-digit sales growth this year while it considered to put itself up for sale.
The Tenterden, Kent-based wine maker said it retained a sound balance sheet "with significant headroom" to its debt facility of GBP12 million and has reached agreement in principle to extend and increase the facility.
Further, Chapel Down will conduct a strategic review of options to fund its plan for profitable growth in the long-term, including putting itself up for sale, investing in new vineyards and a new purpose-built winery to be operational for the 2026 harvest.
Chapel Down shares fell 3.8% to 63.00 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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