Poor harvest hits UK wines

Tim Wallace
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PROFITS fell at English wines firm Chapel Down Group, as last year’s bad harvest hit wine volumes, its financial results showed yesterday.

Earnings before interest, tax, depreciation and amortisation came in at £145,000 for the first six months of 2013, half the £295,000 seen in the same period a year earlier.

But beer sales increased 191 per cent, making up some of that decline.

The company argues it can bounce in the coming year and has raised £4.35m to fund its expansion.