Virgin Wines toasts “strong customer demand” ahead of expected £73m turnover

Virgin Wines is set to surpass its previous performance expectations as its online offering continues to be in demand.

As a result of the performance, the firm’s board anticipates revenue and profitability for FY21 will be ahead of its previous expectations, with turnover for the year expected to be no less than £73m.

The firm has grown its proposition and customer base since the pandemic, with its direct-to-consumer delivery offering meeting the increased demand for online retail.

Jay Wright, Virgin Wines’ chief executive officer, commented: “The strong sales momentum delivered in the first half of the financial year has continued into H2 so far.

“We have been encouraged by the strong customer demand for our wines, alongside growth in our new range of beers and spirits, driven by the ongoing shift in consumer behaviour towards online retailing.

“I would like to thank all of our loyal customers and partners for their continued support in what has been a transformational year for Virgin Wines, having listed on AIM.

“The group remains well positioned to continue to deliver on our long term growth strategy, underpinned by our unique wine sourcing model and unrivalled consumer propositions, alongside our continued focus on all aspects of the customer experience and growth in our customer base.”

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