Chapel Down shares plunge after winemaker pulls back on sale plans

Quick Summary:

Chapel Down said it expected to produce approximately 1,875 tonnes during the 2024 harvest, compared with 3,811 in 2023 and 2,050 in 2022.

It added that third-quarter sparkling wine sales had picked up again and that its retailer inventories had returned to normal levels.

The English wine industry is in a period of consolidation following a decade of rapid growth as a warmer climate and increasing appreciation of domestic wine encouraged more people into the sector.

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Article Details

Author / Journalist: Madeleine Speed

Category: MarketsFinanceInvesting

Markets: United States

Topics: Chapel Year Sales Cent Wine Expected Financial 2024 Company Growth Announced

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 14:57:39 (3 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23241479

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