Good day for the AIM innovators
Contract awards and an encouraging trading update saw shares in two AIM innovators covered here rise sharply. Both companies are addressing huge global markets with significant potential. Elsewhere, a popular UK wine retailer is struggling to differentiate itself from the pack. Read on for more on these and other stories. (Free to read)
Virgin Wines: plenty of headwinds Shares in online wine retailer Virgin Wines (AIM: VINO), took a beating following a disappointing trading update – we covered the IPO of this business previously here. Revenue for the 6 months ending 31 December rose 55% to £40.5m, with customers on its flagship WineBank service performing ahead of expectations. VINO’s subscription schemes are a key driver of its direct-to-consumer sales channel, which represented 82% of group revenue in the period. But that was the good news…. Unfortunately, customer acquisition has been more challenging with the number of new customers acquired falling below expectations and…