CEO Frazer Thompson, said: “As expected, profits are down due to the 24% fall in the volume of wine available for sale following two low yielding harvests in 2011 and 2012.

“Nevertheless, year-on-year sales were up 4% on last year at a record £5,033k reflecting a 10% increase in the selling price for our wines and a 119% increase in the sales of our Curious beers which have listings in Majestic and Waitrose as well as hundreds of quality bars and restaurants including Jamie Oliver, The Royal Opera House and Hilton Hotels,” he said.

 “We are also delighted that 2013 gave us a bumper crop, our highest ever which will enable us to replenish our stocks and gradually fulfill growing demand for our wines.

“We have been frustrated by our lack of stock and it was important therefore that we were successful in raising £4.35m of new funding to accelerate our growth and improve supply,” said Thompson.