Chapel Down Group, the Kent-based wine producer, saw sales rise 21% year on year for the 12 months to 31 December, to a record £6.1m.
The company, which raised £3.95m through crowdfunding during the period for expansion, saw further growth in beer revenues with a 43% increase in turnover.
Pre-tax profit were up 175% to £187,000 (2013: £68,000) and EBITDA was £479,000 (2013: £454,000).
During the year Chapel Down completed three long term land leases totalling 326 acres of prime viticultural land.
The company said financial performance been slightly affected by the low levels of grape harvest in 2011 and 2012 which limited the amount of sparkling wine stock available for sale. However, it stressed that with two large harvests in 2013 and 2014 its stocks had been replenished and it could now plan for further growth.
On the outlook for 2015, chairman John Dunsmore said: “The team was delighted to secure £3.95m of new funding in September 2014 at what was the prevailing share price. The new funds will ensure the group continues to thrive. We have already made progress on exciting developments. We have secured new vineyards, new equipment, developed new products and hired great people to ensure we continue selling more wine and beer, making better returns and building a long term brand and value.
“Our assets are extremely strong: high quality vined land in particular attracts a premium as evidenced by recent transactions. In addition, our brand assets are more valuable and our limited stock more in demand than ever.
“With an excellent management team, a very strong balance sheet enhanced by a superb crowd-funding campaign, many new and enthusiastic shareholders and customers and more stock of sparkling wine to become available, we remain confident that the prospects for the Group are excellent.”
Dunsmore said that the “staggering” level of duty and taxes levied by the UK Government remained and challenge.
He said: “We are hopeful that further punitive duty increases are unlikely given the current success of the industry and the economic benefits of its continuing growth. Regardless of future duty increases, maintaining a strong brand is our best defence. However, we will be further broadening our geographic reach through exports of our sparkling wines and beers.”
