Online retailer Virgin Wines has posted an uplift in full year profit despite challenging trading conditions.
In the year to 1 July, pre-tax profit rose to £5.1 million from £1.7 million a year earlier.
While group revenue fell year-on-year from £73.6 million to £69.2 million, it was 63% above pre-pandemic levels three years ago.
Giving an update on more recent trading, Virgin Wines said a positive August gave way to a softer September due to the national period of mourning following the death of Her Majesty the Queen.
Despite the current pressures on consumers’ disposable incomes, the company suggested that it could benefit from more people opting to socialise and drink wine at home in the coming months.
