The Independent

Profit plummets at Virgin Wines after tough Christmas


Christmas proved rough for Virgin Wines, which revealed yesterday it had lost around £1.5m in revenue because it had to cut off festive sales a week earlier than usual amid software problems in its two warehouses. A cold snap that snuck in across the UK in December also created challenges, as did the widespread postal strikes during the month. The company’s pretax profit was almost obliterate­d, hitting just £90,000 in the six months to the end of December from £3.2m the year before. It came as revenue also dropped off significan­tly, falling by 17 per cent to £33.6m. The company said: “The business is currently undertakin­g a full business review to ensure we are fully leveraging the opportunit­ies available to us and that we are positioned as positively as possible for future growth and profitabil­ity.”

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