Virgin Wines UK PLC (GB:VINO) has released an update.
Virgin Wines UK PLC maintains a robust financial performance in FY24, with a steady revenue of £59m, a significant increase in EBITDA to £2.8m, and a profit before tax of £1.95m, outperforming market expectations. The company’s strong balance sheet is highlighted by a substantial net cash position of £10.2m and debt-free status. Virgin Wines’ focus on operational efficiencies, margin improvements, and successful subscription services such as WineBank, along with prudent customer acquisition strategies, is propelling the business forward despite challenging market conditions.
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