Virgin Wines hails ‘good Christmas’ as sales and profitability jump
Virgin Wines has hailed a strong Christmas trading period, reporting increases in both total revenues and profitability and maintaining its full-year profit guidance.
For the six months to December 29, 2023, Virgin Wines reported 2% year-on-year sales growth to £34.3m and a 122% increase in EBITDA to £1.75m, representing a profit margin of 5%, driven by “revenue growth and stringent cost management”.
The business had a 22% increase in new customer conversion rates during the period and a decrease of 14% on “fully costed cost per acquisition”. Sales to repeat customers during the period were up circa 5%.
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