Virgin Wines blames government for inflationary cost pressures

Virgin Wines profit falls despite 'encouraging progress' against growth drivers

Drinks brand Virgin Wines saw profit dip in its audited annual results, despite hailing “encouraging progress” against all growth drivers. Pre-tax profit fell to £1.6m for the year ended 28 June, from £1.7m the year before. However, the business said its profitability was “ahead of expectations”, notwithstanding the “investments in our growth strategy”. Adjusted EBITDA dropped from £2.8m in 2024 to £2.3m over the period. Total sales in-line with…

Virgin Wines FY profits dip 5% to £1.6m amid cost pressures

Virgin Wines UK has reported a 5% fall in profits before tax to £1.6m in the year ended 28 June, as cost pressures linked to government policy weighed on margins.  According to the wine retailer, most of its cost increases stemmed from a rise in alcohol duty and a new environmental packaging tax on glass bottles. Revenue for the year was unchanged at £59m, compared with the previous year, while adjusted EBITDA fell to £2.3m, down from £2.8m.  Gr…

Virgin Wines says government policy 'driving significant cost pressures'

Virgin Wines said it has been unable to pass on cost pressures

Virgin Wines blames government for inflationary cost pressures

Virgin Wines has said most of its cost pressures this year have been driven by government policy, including an alcohol duty revamp and a bottle tax.  The online wine seller told markets that profit before tax dipped by five per cent to £1.6m in the 2025 financial year, despite flat revenue. CEO Jay Wright pointed to “a challenging consumer backdrop and significant cost pressures” as reasons for the profit dip, with a complete revamp of the alcoh…

Virgin Wines: Revenue stable with earnings down slightly - Harpers Wine & Spirit Trade News

Online wine retailer Virgin Wines has released its results for FY25. For the period ending 28...