Virgin Wines blames rising cost pressures as it issues profit warning
Virgin Wines has blamed a host of macroeconomic factors, including spiralling inflationary and other cost pressures, after issuing a profit warning.
In a trading update for the six-month period ending December 31, 2021, Virgin Wines said it expected both profits and sales to be lower than consensus for the financial year to June due to an āuncertain trading and macro environment, coupled with numerous headwinds in relation to increased cost pressureā.
The pureplay wine specialist issued the profit warning despite reporting a 55% increase in sales for the period to Ā£40.5m.
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