Virgin Wines UK PLC reported a pick-up in festive trading and meaningful customer growth in its first half results on Tuesday. The online retailer said revenue during the Christmas trading window rose 5% year-on-year, while customer acquisition climbed 40%.
For the six months ended January 2, 2026, Virgin Wines recorded revenue of £34.7 million, a 2% increase compared with the prior-year period. That performance came against a backdrop in which the wider online drinks market contracted by 11% over the same period, underscoring relative outperformance by the retailer.
Company commentary highlighted forward momentum across the pillars of its growth strategy. Management reported a 40% uplift in customers acquired, achieved while keeping acquisition costs broadly unchanged.
Commercial channels contributed positively, with corporate gifting and partner-led sales ahead of expectations. The Moonpig collaboration was singled out for delivering double-digit growth during the period.
Brand performance was uneven but featured notable gains: Warehouse Wines posted particularly strong results, with revenues rising 92% compared with the same period last year.
Financial position and capital actions
Virgin Wines ended the half with gross cash of £17.9 million and net cash of £10.6 million as at January 2, 2026. Those balances were reported after returning £2.7 million to shareholders through share buybacks. The company also increased inventory levels in advance of an expected duty increase at the end of January.
Outlook
Management said it remains on track to launch a mobile app during the current quarter and expects full-year performance to be in line with market expectations.
"We are delighted to report a positive first-half performance in which we have delivered meaningful market share gains enabled by our growth strategy," said Jay Wright, Chief Executive Officer of Virgin Wines.
Overall, the update combines revenue growth, a sizable increase in customer acquisition and targeted commercial wins with a strong cash position and shareholder returns. The company has also taken inventory and capital actions in anticipation of policy-driven cost changes.