IN BRIEF: Chapel Down says 2026 earnings to be ahead of market view
Chapel Down Group PLC - Tenterden, Kent-based sparkling and still winemaker - Pretax loss narrows to £551,000 in the half year that ended June 30 from £687,000 a year before, as net sales revenue rises 19% to £9.4 million from £7.9 million. Adjusted earnings before interest, tax, depreciation and amortisation is £1.3 million, up 27% from £1.0 million. Chapel Down says adjusted Ebitda for all of 2026 will be "materially ahead of market expectations", which it places at £3.7 million on net sales revenue of £22.1 million. Net debt is expected to be lower than market expectations of £16.2 million, it says, standing at £14.0 million on June 30.
The winemaker calls itself "the lighthouse brand of English wine, the world's newest international wine region". It is chaired by Michael Spencer, who founded interdealer broker ICAP and is the biggest shareholder in Chapel Down at 27%. "The board is pleased with the progress achieved during the first half of the year," Spencer says. "Strong revenue growth, improved profitability and continued strategic execution have further strengthened the group's position."
Chief Executive Officer James Pennefather says Chapel Down's focus on traditional method sparkling wine is delivering results, as Millennials develop a taste for it and global warming expands its production range.
Current stock price: 47.60 pence, up 3.5% in London on Wednesday
12-month change: up 13%
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