VIRGIN WINES UK PLC (VINO) — Interim Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to the VIRGIN WINES UK PLC Interim Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the q and a tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I would like to submit the following poll. And as usual, if you could give that your kind attention, I'm sure the company would be most grateful. And I'd now like to hand you over to CEO, Jay Wright. Good afternoon, sir. Thank you very much, and thank you to everyone for coming and listening to our presentation today. I'm here with our CFO, Graham Weir, to present our interim results for f y twenty three. So I'd just like to start, by just really talking about the first six months of this financial year, which has seen a number of one off impacts on the business in tandem with a challenging macro environment. Despite this, we've continued to focus on a handful of key drivers to ensure the business is as well positioned as possible to grow and thrive once consumer confidence starts to recover. These are delivering high quality, low cost recruits, driving membership growth in our key WINES Bank subscription scheme, focusing on maximizing direct to consumer gross margins, optimizing working capital usage to maximize free cash flow, and maintaining our disciplined approach to costs. To show the results of this focus, I want to mention a number of highlights...