Today we published our half year results and I am pleased to announce a strong financial performance in line with management expectations in the six months ended 30 June 2022.
The profitable growth (profit before tax up 6.4% to £488,737) achieved in the first half of the year was primarily driven by 35% growth in traditional method sparkling wine sales, as we delivered a substantial shift in our sales mix in line with our premiumisation strategy.
English wine is in the ascendancy as a result of our terroir, climate and the sustained investment in the industry resulting in our wines winning both international recognition and growing loyalty from UK consumers. In an exciting and growing market, Chapel Down is the leading and largest brand, with unrivalled brand awareness driven higher this year by partnerships with the England and Wales Cricket Board, the Boat Race and Ascot.
With a strong first half delivered, we look to the remainder of the year with confidence. Despite the evolving consumer backdrop, we continue to trade positively and expect to deliver net sales revenue growth and sustained margins for the full year. This, together with our positive 2022 harvest, ensures we are on track to meet our target of doubling the size of the business by 2026.