Business
Interim Results
Interim Results.
About this update from Virgin Wines Uk Plc
[{"type":"text","content":"\n\n26 March 2025\n \n\n \nVirgin Wines UK plc\n(\"Virgin Wines\", the \"Company\" or the \"Group\")\n \nInterim Results\n \nResilient first-half performance underpinned by 9% growth over the important Christmas trading period and launch of a 5-year strategic Growth Plan to drive future shareholder value\n \nVirgin Wines UK plc (AIM: VINO), one of the UK's largest direct-to-consumer online wine retailers, is pleased to announce its unaudited interim results for the six months ended 27 December 2024 (the \"Period\").\n \nFinancial highlights\n\n\n\n\n· \n\n\nTotal revenue of £34.1 million1 (H1 2024: £34.3m)\n \n\n\n\n\n· \n\n\nStrong profitability driven by operational efficiency, with PBT up 20% to £1.3m (H1 2024: £1.1m) while EBITDA remained in line at £1.6m\n \n\n\n\n\n· \n\n\nStrong balance sheet, with no debt, £23.7m of gross cash and net cash2 of £17.3m, an increase of 57% year-on-year (H1 2024: £11.0m)\n\n\n\n\n \n \nStrategic highlights\n\n\n\n\n· \n\n\nStrong Christmas trading performance\n\n\n\n\n \n\n\no \n\n\nRevenue up 6.7% in the six weeks to 27 December 2024 to £13.5m with the December period up 9% year-on-year delivering record sales for a single month outside the covid affected period\n \n\n\n\n\n· \n\n\nActive and loyal customer base, with a continued focus on high-quality customer acquisition\n\n\n\n\n \n\n\no \n\n\nLeveraging the underlying strengths of the operating model and a continued focus on strategic marketing and promotional activity to drive loyalty and growth\n\n\n\n\n \n\n\no \n\n\nNew customer acquisition for the Group up 29% in the Period and by 25% during December 2024\n\n\n\n\n \n\n\no \n\n\n12-month rolling cancellation rate of WineBank, the Group's main subscription offering, at an all-time low of 14.9%\n \n\n\n\n\n· \n\n\nOperational efficiencies reinforce position as the lowest cost to serve\n\n\n\n\n \n\n\no \n\n\nCost per case reduced by 10.1% during the Period, and by 5.4% in December, despite the 10% increase in the National Living Wage and cost pressure on paper and energy affecting packaging and courier costs\n\n\n\n\n \n\n\no \n\n\nWarehouse Management Sy...