30th Sep 2015 13:32
LONDON (Alliance News) - Gusborne PLC Wednesday reported a wider pretax loss in the first half of 2015 as it invests in the growth of the business and as revenue fell very slightly.
The sparkling wine producer said that its pretax loss in the six months to June 30 widened to GBP725,000 from GBP516,000 in the first half of 2014, as revenue fell slightly to GBP190,000 from GBP194,000.
It said that its sales reflect the limited stock availability of earlier year vintages, while it continued to invest in the development and growth of the business.
"I am delighted with the continued progress of the company in line with our long-term development plan, including operational expansion and the continued development of the Gusbourne brand," Chief Executive Ben Walgate said in a statement.
"Our plans for further vineyard expansion were implemented in May this year with the planting of a further 76 acres of vineyards. The bottling of the 2014 harvest, in April, has added considerably to our stocks for sale in future years," he added.
Shares in Gusbourne were untraded Wednesday, having last traded at 48.00 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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