Virgin Wines UK (VINO)

Sector:

Retailers

Index:

FTSE AIM All-Share

 41.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 54.00
  • 52 Week Low: 28.50
  • Currency: UK Pounds
  • Shares Issued: 55.97m
  • Volume: 6,840
  • Market Cap: £23.23m

Virgin Wines says FY revenues to fall, shares slide

By Michele Maatouk

Date: Thursday 12 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Virgin Wines warned on Thursday that full-year revenues were set to decline, as it posted a drop in first-half revenues, sending shares in the online wine retailer tumbling.
In an update for the six months to the end of December, the company said total revenue fell to £33.7m from £40.5m in the same period a year earlier "despite strong rates of customer acquisition in the face of high inflation and cost-of-living pressures".

Sales were impacted by a number of one-off factors, particularly over the Christmas trading period. These include a pause on all marketing activities following the passing of the Queen, the recent implementation of a new Warehouse Management System, and postal strikes and bad weather in the run-up to Christmas.

As a result, Virgin Wines now expects FY23 revenue of around £63m, down from 69.2m a year earlier. It had previously said that revenues were likely to be flat year-on-year.

The full-year EBITDA margin is expected to be between 4% and 5% and the underlying EBITDA margin excluding exceptional factors is set to be 2% higher, at between 6% and 7%.

Chief executive Jay Wright said: "We are disappointed with our profitability performance over what has been a difficult trading period, which has been exacerbated by one-off exceptional circumstances. However, our underlying business model remains resilient as the consumer proposition continues to resonate strongly. We are pleased to have attracted a significantly increased number of new customers onto our WineBank scheme, our strategic partnership with Saga has started promisingly and our other commercial partnerships continue to perform well.

"Whilst being mindful of the pressures on the business, especially with regards to the high inflationary landscape, we remain confident in our future prospects, driven by the ongoing strength of the brand, our unique offering and loyal customer base.''

At 0930 GMT, the shares were down 28% at 52.56p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Virgin Wines UK Market Data

Currency UK Pounds
Share Price 41.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 54.00
52 Week Low 28.50
Volume 6,840
Shares Issued 55.97m
Market Cap £23.23m

Virgin Wines UK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
11.51% below the market average11.51% below the market average11.51% below the market average11.51% below the market average11.51% below the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average
Price Trend
49.14% below the market average49.14% below the market average49.14% below the market average49.14% below the market average49.14% below the market average
56.1% below the sector average56.1% below the sector average56.1% below the sector average56.1% below the sector average56.1% below the sector average
Income Not Available
Growth
77.75% below the market average77.75% below the market average77.75% below the market average77.75% below the market average77.75% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average

Virgin Wines UK Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:49 110 @ 41.70p
15:40 10 @ 40.00p
15:40 10 @ 43.00p
15:40 1 @ 43.00p
13:45 1,914 @ 41.80p

Virgin Wines UK Key Personnel

CEO Jeremy Simon Wright
CFO Graeme David Weir

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