Virgin

(Alliance News) - Virgin Wines UK PLC on Tuesday said half-year profit plunged as a result of ...

The company also said it will continue to focus on low-cost recruitment and maximising value from its existing customer base. The online wine retailer, based in Preston, England, said pretax profit for the six months that ended December 31 fell to GBP90,000 from GBP3.2 million a year earlier. Virgin Wines said this was the result of "one-off factors", such as "teething problems" with its new warehouse management system, two weeks of national mourning following the death of Queen Elizabeth II in September, and postal strikes at Royal Mail.

Online wine purveyor reports earnings plunge. - Launches full business review. - But customer base remains strong, new partnerships performing well.

Liberum Capital, which has a ‘buy’ rating and 100p price target, said Virgin Wines has ‘maintained its very strong cash position, is debt free and holding an appropriate level of inventory. This provides the scope to assess new opportunities to invest in growth in what has become a significantly different consumer environment to that of 18 months ago.’ Pointon added: ‘Whilst the group remains strongly committed to its customer acquisition strategy and expanding its B2B revenue channels, investors will be keeping a close eye on the company’s financials to determine whether January’s profit warning was a one-off event and if a potential rebound in consumer spending will support a better second half of the year.’ [Virgin Wines](https://www.londonstockexchange.com/news-article/VINO/interim-results/15873575) had already issued a profit warning in January highlighting the 17% year-on-year decline in revenue to £33.6 million due to internal logistics issues encountered over Christmas and with postal strikes and bad weather crimping demand. Given the shift in consumer confidence over the past 15 months, with the pandemic-driven online ordering having fizzled out and cost-of-living pressures impacting consumer spending, Virgin Wines said it has launched a business review to ‘identify new initiatives for future growth and profitability’ and help it capitalise on opportunities as the cost of living crisis eases. [VINO:AIM](/shares/share/VINO)) fell 8% to 44.7p, leaving them 65% lower over one year, after the online wine retailer uncorked a 97% plunge in pre-tax profits for the half to December 2022.

On 26^th March 2023, Virgin Atlantic Cargo will launch a new framework for products that have been designed to offer more choice for customers when booking. The ...

The new framework will consist of both products and service levels enabling its customers to tailor every movement by selecting the right handling, speed, priority, and price. This combination of products and service levels allows its customers to move shipments their way. On 26th March 2023, Virgin Atlantic Cargo will launch a new framework for products that have been designed to offer more choice for customers when booking.

Virgin Wines has launched a "full business review" after reporting a sharp decline in the group's first-half sales and profits.

Stock prices have also been down 65% over the last year, according to investment research and consultancy firm Edison Group. However, it also cited a number of “one-off” factors which caused profits to plummet. The group had already issued a profit warning in January, highlighting the decline in revenue to £33.6m, down 17% from £40.6m in H1 2022. Virgin Wines also reported an underlying EBITDA of £1.4m versus £3.9m in the first-half results for 2022. This website uses cookies so that we can provide you with the best user experience possible. A combination of internal logistics issues and external factors were cited by the company as the reason for the fall in profits and sales.

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on ...

Revenue in the six months to December 31 falls 17% to GBP33.6 million from GBP40.6 million a year earlier. Signs deal with utilities connections expert Power On Connections Ltd to lift power supply at Bessemer Park to 30 megavolt amperes by end of 2024 from 7.5 megavolt amps currently. "Pendulum is committed to advancing foreign exchange trading into the blockchain space to integrate a tranche of the USD6.6 trillion traded daily in forex markets. ITM Power PLC, up 6.4% at 85.64p, 12-month range 66.02p-424.20p. ---------- Blockchain company Pendulum releases its 'Spacewalk' blockchain bridge, which aims to bridge the gap between the decentralized finance and traditional fintech services sectors.

Virgin Wines posted declining sales and profits in the first half of its financial year after the company was impacted by internal and operational ...

In addition, partnerships with Moonpig, Avanti West Coast, LNER, Great Weemstern Railway and Virgin Red were pivotal in driving revenue through its B2B channel. “We continue to make progress on addressing the challenges where we can, and we remain confident in the future growth prospects of Virgin Wines. Virgin Wines posted declining sales and profits in the first half of its financial year after the company was impacted by internal and operational challenges. Chief executive Jay Wright said: “As previously announced in our year-end trading update, profitability was impacted during the first half, with a number of macroeconomic headwinds exacerbating certain internal and operational challenges which we encountered particularly over our peak Christmas trading period.” // Virgin Wines’ profits and sales dropped in the first half as the business was impacted by internal and operational challenges // But the wine specialist said January and February trading was “broadly in line with expectations” with consistently resilient demand among customers

SJ Walker, director of sales at Virgin Voyages, talks about the line's upcoming agent roadshows and its commissionable party planning package.

Our party planning package – A Splash for Your Bash – includes Moet & Chandon champagne, bottomless brunch and a dinner party. For a limited time, this can be locked in for $250 per cabin (and yes, it’s commissionable). We can’t wait to see you this month at our Now We’re Voyaging Roadshow.