Chapel Down Group (LSE:CDGP), the English winemaker, reported net sales revenue growth of 19% to £9.4m for the first half ended 30 June, up from £7.9m a year earlier.
The company said the increase was in line with management expectations and reflected progress across all its sales channels.
International sales were the standout, growing 66% to £0.8m as Chapel Down's US partnership with Jackson Family Wines expanded the brand's presence to 31 states, including a new listing in 250 Whole Foods Market stores.
Off-trade revenue rose 18% to £4.4m, with Chapel Down extending its lead in the English Sparkling Wine category, while on-trade sales also grew 18% to £1.5m as distribution reached 2,750 outlets, up from 2,597. Direct-to-consumer revenue rose a more modest 4% to £2.5m.
Net debt increased to £14m from £12.4m at the last year-end, which the company attributed to its capital allocation policy, and it extended its revolving credit facility from £20m to £25m, with a further £5m accordion option available.
"Chapel Down's strong momentum in 2025 has continued into 2026 with +19% topline growth in H1, as we took market share in a growing category", said chief executive James Pennefather.
The board said variable weather in Kent this growing season, including a late May frost, is expected to leave yields broadly in line with the five-year average, with a further update due closer to harvest.
The company said it remains confident of delivering full-year results in line with market expectations, which it identified as net sales revenue of £22.1m and adjusted EBITDA of £3.7m for the year ending 31 December.
News Intelligence what this means for the company
Chapel Down delivered 19% revenue growth to £9.4m in H1, with momentum across all channels—international sales surged 66% on Jackson Family Wines' US expansion into 31 states and 250 Whole Foods locations, while off-trade and on-trade each grew 18%. The company reaffirmed full-year guidance of £22.1m revenue and £3.7m adjusted EBITDA, signaling confidence despite late May frost risk to Kent yields.
The 19% topline growth and broad-based channel expansion, especially the 66% international jump, demonstrate execution on the US partnership strategy. However, net debt rose to £14m from £12.4m while the company extended credit facilities, suggesting capital intensity ahead; the direct-to-consumer slowdown to 4% growth also warrants monitoring against the faster growth elsewhere.
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