Virgin Wines UK (VINO)

Sector:

Retailers

Index:

FTSE AIM All-Share

 36.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 48.00p
  • 52 Week Low: 34.40p
  • Currency: UK Pounds
  • Shares Issued: 55.66m
  • Volume: 3,498
  • Market Cap: £20.04m

Virgin Wines FY EBITDA, pre-tax profit ahead of market views

By Michele Maatouk

Date: Thursday 25 Jul 2024

LONDON (ShareCast) - (Sharecast News) - AIM-listed Virgin Wines said on Thursday that full-year EBITDA and pre-tax profit were ahead of market expectations despite a challenging backdrop.

In an update for the year to 30 June, the online wine retailer said revenue was in line with the previous year at £59m, while earnings before interest, tax, depreciation and amortisation were up 260% at £2.8m. Enhanced margins and operational efficiencies, particularly in warehouse fulfilment, drove an improvement in profitability, it said.

Gross margins improved to 31.9% from 29.6% a year earlier despite an inflationary environment and ongoing cost pressures, driven by its "unique sourcing model and strong cost control", it said.

Meanwhile, new customer conversion rates on the subscription schemes increased to 55.5% from 49.2%. Cancellation rates on the flagship WineBank membership service improved to 16.1% from 17.3%.

Chief executive Jay Wright said: "I am pleased to report a full-year performance with resilient sales despite a challenging consumer and inflationary market backdrop. Both EBITDA and PBT were ahead of expectations, being significantly up year-on-year due to expanded gross margins and reduced operating variables.

"Demand remains strong for our range of wines and subscription schemes. Our flagship WineBank service was recently recognised as 'Wine Club of the Year' at the prestigious International Wine Challenge awards, and over the past 12 months we have seen it deliver increased new customer conversion rates and decreased cancellation rates.

"Our B2B sales continue to grow while our newly launched value proposition, Warehouse Wines, has also delivered encouraging initial results."



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Virgin Wines UK Market Data

Currency UK Pounds
Share Price 36.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 48.00p
52 Week Low 34.40p
Volume 3,498
Shares Issued 55.66m
Market Cap £20.04m

Virgin Wines UK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.59% above the market average8.59% above the market average8.59% above the market average8.59% above the market average8.59% above the market average
19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average19.05% below the sector average
Price Trend
43.56% below the market average43.56% below the market average43.56% below the market average43.56% below the market average43.56% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Income Not Available
Growth
71.26% below the market average71.26% below the market average71.26% below the market average71.26% below the market average71.26% below the market average
61.9% below the sector average61.9% below the sector average61.9% below the sector average61.9% below the sector average61.9% below the sector average

Virgin Wines UK Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
15:15 777 @ 35.25p
13:44 2,721 @ 36.40p

Virgin Wines UK Key Personnel

CEO Jeremy Simon Wright
CFO Graeme David Weir

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