WINE MAKER TOASTS RISING PROFITS FROM U.S. VENTURE

CHAPEL Down has seen sales fizz after toasting its first year in the US.

Revenues at the Kent-based wine maker rose 15pc to £11.8m last year thanks to the growing popularity of English sparkling wine as an alternative to champagne.

Wine sales were up 20pc to £8.1m while purchases of its Curious beers and ciders were up 7pc to £3.7m. Overall, profits jumped 12pc to £4.5m.

Last year Chapel Down raised £18.5m which it will use to buy 500 acres of vineyard land, adding to its existing 533-acre portfolio. It also plans to invest further in its gin, vodka and beer brands and buy rivals if opportunities arise.

Frazer Thompson, chief executive, said the firm was eyeing more opportunities to sell its wine overseas after hitting its first-year sales target of 10,000 bottles in the US.

He said: ‘We will accelerate our investment in planting new vineyards on the finest land, develop our winery and tourism infrastructure, build out our new brewery in Ashford and continue to innovate and excite the drinks business.’