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Previously writing on online wine retailer Virgin Wines UK (VINO), in October with the shares at 50p I noted ‘full-year results argue “resilience”… but it’s financial downgrades AGAIN’ and concluded it is particularly the cash flow and balance sheet to monitor here and the trading trajectory sees me continue to avoid. The shares last closed at above 70p but are currently back towards 50p on the back of a “trading update”, so how’s that trading trajectory?

NEWSFLOW

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Online wine retailer Virgin Wines (VINO) has announced results for its year ended 1st July 2022, stating that it is “pleased to report the group's second set of annual results as a public company, following our admission to AIM in March 2021… looks to the future with confidence”. The shares have currently responded slightly higher to 50p, but that still compares to above 100p as recently as June.

NEWSFLOW

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Online wine retailer Virgin Wines UK (VINO) has issued a trading update for its year ended 30th June 2022 emphasising “a strong, stable and resilient business model, coupled with disciplined customer acquisition, that delivers market leading profitability”. So why are the shares currently down a further more than 7.5% to 67p on the announcement?

NEWSFLOW

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Hello Share Swallowers. This old punter stopped drinking a few years ago. But I still hanker after a glass of red wine. Beer I’m happy to forget. I merely follow a national trend. Wine drinking is going up among Brits and ale is on a decline. Proving that there’s a growing move towards el vino is Virgin Wines (VINO).

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Online wine retailer Virgin Wines UK (VINO) has made a trading update including noting “customers acquired during the Covid lockdown period continue to perform strongly. We were delighted to ship more than 7 million bottles of wine during the period and to deliver sizeable growth in our customer base with strong levels of customer conversion and retention… net cash balance of £13.6m at 31 December 2021”. So then why a current share price of 155p, down 22.5%!?

NEWSFLOW

NEWSFLOW