19th May 2016 09:29
LONDON (Alliance News) - Gusbourne PLC on Thursday reported a wider pretax loss in 2015 due it booking higher costs and an exceptional charge, but revenue grew strongly and the sparkling wine producer said it is optimistic for future years.
Gusbourne, which has 231 acres of vineyards in Kent and West Sussex, said its pretax loss in 2015 widened to GBP1.4 million from GBP1.2 million in 2014, as it booked higher administrative expenses relating to sales, marketing and brand development, and an exceptional cost in respect of the conversion of bonds into shares.
Revenue, however, rose 9.0% to GBP473,000 from GBP434,000.
"The high quality of grapes harvested in the year bodes well for 2015 becoming another great vintage for Gusbourne. Yield volumes were good and in line with expectations, and the resulting wine production has added further to our inventory levels for sale in future years," Gusbourne said in a statement.
Shares in Gusbourne were up 0.2% on Thursday at 54.08 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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