Interim Results for the Period Ended 30 June 2026
We are pleased to report the following unaudited results for the six-month period ended 30 June 2026. During the period, Gusbourne delivered continued progress against its strategic priorities, including improving operational performance, optimising its asset base, focusing on core freehold vineyard sites, expanding routes to market and continuing to craft the finest wines in the world.
Highlights of H1 2026 include:
- Net revenue* increased by 20% to £4.2m (H1 2025: £3.5m).
- International and Global Travel Retail sales increased by 15% to £1.03m (H1 2025: £0.89m). Gusbourne continues to expand internationally. Distribution agreements commenced in several new markets and sales depletions were supported within many existing markets, alongside further strengthened relationships within the global travel retail sector.
- Direct to Consumer sales (including bottle sales, tours and experiences) up by 13% to £1.20m (H1 2025: £1.06m). More guests have been welcomed to the Nest than ever before.
- UK Trade sales increased by 30% to £1.35m (H1 2025: £1.03m), demonstrating the strength of our direct relationships in this strategically important channel. Growth was further supported by our corporate sales channel, which grew 40% to £0.44m (H1 2025: £0.31m).
- Gross margin remained strong at 61.2% (H1 2025: 61.8%), with the modest reduction reflecting changes in sales mix.
- Adjusted EBITDA** was positive during the period, compared with a loss of £0.6m in H1 2025, reflecting improved revenue performance and the benefits of cost reduction initiatives.
- Following a comprehensive review of business operations, administrative expenses were reduced by 23% to £0.73m (H1 2025: £0.95m).
- Despite isolated frost events early in the growing season, overall weather conditions have been favourable and the grapes are developing well. We expect the 2026 harvest to commence in September and remain confident in achieving our usual high standards of quality and an improved yield.
- Ongoing success in international wine competitions with significant awards and scores received for still and sparkling wines from Decanter, International Wine Challenge and Texsom and reviews from Wine Enthusiast, Jancis Robinson and James Suckling.
* Net revenue represents Revenue after deducting excise duties.
** Adjusted EBITDA means profit/(loss)from operations before fair value stock adjustment and capital expenditure write-off/sales, fair value movement in biological produce, tax, depreciation and amortisation.
Patrons Programme
All Gusbourne shareholders are invited to join our Patrons programme, which is designed to keep shareholders connected to the business.
We host several events each year, which provide shareholders with an opportunity to enjoy Gusbourne hospitality and meet with members of the Board.
If you are not a Patron, but are a shareholder and would like to join and attend future shareholder events, please email: patrons@gusbourne.com.
