Virgin Wines sees sales leap as online shopping continues

Virgin Wines social box

Virgin Wines has reported a lift in sales and customer numbers in its first set of full-year results since becoming a listed company.

The company said today that sales in the 12 months to the end of June were up 30% to £73.6m, compared to 2020. Growth was driven by “strong levels of customer demand, increased investment in customer acquisition and strong customer loyalty”, Virgin Wines said. Compared to pre-pandemic times, revenue was up 73% on FY19. 

Meanwhile, profit before tax and exceptional items increased 86% to £5.2m.

The company highlighted a lift of 24% to its active customer base as well as a “continued focus on innovative packaging” and new partnerships, including one with Moonpig.  

Virgin Wines also reported growth in craft beer and spirits sales, with revenue up 97.5% in FY21.

Looking forward, CEO Jay Wright said: “Following this milestone year, I look forward to working with our stakeholders over the coming 12 months to maintain this exciting momentum and drive the business further towards achieving its significant potential. Whilst we remain mindful of the potential impact from the easing of lockdown restrictions on consumer spending patterns, recent customer retention data has proven promising and we are confident that Virgin Wines, underpinned by underlying, subscription-weighted growth drivers, its strong brand and unique customer proposition remains well placed to take advantage of future consumer trends.”

The company also acknowledged supply chain issues and cost inflation in the trade. “Despite these wider economic challenges, with consumer demand still buoyant and our stock levels in excellent shape, the board remains optimistic and excited about the year ahead,” the statement said.  

The online wine platform was listed on the London Stock Exchange on 2 March this year.

Related articles: