Gusbourne PLC Trading Update (6015O)
02 6월 2020 - 3:00PM
UK Regulatory
TIDMGUS
RNS Number : 6015O
Gusbourne PLC
02 June 2020
2 June 2020
Gusbourne Plc
("Gusbourne", the "Company" or the "Group")
Trading Update
Gusbourne (AIM: GUS) is today pleased to announce an update on
its trading.
The Company experienced a strong start to trading in the first
three months of the year with revenue performance ahead of
directors' expectations. Since the end of March 2020, however the
distribution channels of the Company have been impacted by
Covid-19. The Company has however been able to engage in a number
of new sales initiatives to mitigate this impact and the directors
are pleased to report increasing demand for wine in some channels,
especially online.
On the production side, both vineyard and winery operations have
continued to work through the lockdown with appropriate safety
protocols put in place. The Company has furloughed a number of
staff, particularly in the sales function and taken various steps
to reduce costs at this time.
Whilst the immediate outlook for sales remains uncertain, the
directors remain confident about the Group's longer-term prospects
beyond Covid-19.
The Company is also pleased to announce today that it has
entered into a new GBP10.5 million asset-based lending facility
with PNC Financial Services UK Ltd. The new facility, detailed
further in a separate announcement, will be used to refinance
certain existing debts, provide additional liquidity for the
Company and to provide long term finance to the Company at a
competitive rate.
For further information contact:
Gusbourne Plc
Charlie Holland +44 (0)1233 758 666
Canaccord Genuity Limited
Bobbie Hilliam
Georgina McCooke +44 (0)20 7523 8000
Note: This announcement and other press releases are available
to view at the Company's website: www.gusbourneplc.com
Note to Editors
Gusbourne PLC ("the Company") is engaged, through its wholly
owned subsidiary Gusbourne Estate Limited (together the "Group"),
in the production and distribution of a range of high quality and
award winning English sparkling wines from grapes grown in its own
vineyards in Kent and West Sussex. The majority of the Group's
mature vineyards are located at its freehold estate at Appledore in
Kent where the winery is also based.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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