A fine time to be a fine wine company

The latest industry figures suggest that it's a good time to be a fine wine company, with growth of sales in the £7+ section of the wine market.

However, the budget end of the market, at £4 and below, is performing less well, hinting that more and more Britons are acquiring a taste for the better examples of the beverage.

If you're a fine wine company, that means you're likely to be experiencing double-digit sales growth at present, according to the Wine and Spirit Trade Association.

By way of contrast, however, champagne is not performing quite as well in the off trade at present, as it seems fewer people are choosing to drink the sparkling wine at home.

On-premises sales more than make up for this though, with a 9% drop in off trade champagne sales but a 13% increase in the on trade.

The data relates to trends seen in the past 12 months in the wine and spirits market, part of an ongoing data series compiled by the WSTA.

Commenting on the results, WSTA chief executive Miles Beale said that the positive signs do not change the fact that the economy is still challenging - and that further sanctions like minimum unit pricing should not be introduced in the current financial climate.