- Digital Wine Ventures (DW8) toasts a successful 2021 financial year following a 410 per cent increase to its revenue
- The company had a very successful year for its WINEDEPOT logistics business, shipping nearly 205,000 cases, up from 23,801 in the year before
- DW8 plans to keep the momentum going this current financial year as it expects to ship one million cases
- Gross profit increased to $19,414, while the company reported a loss after tax of $6.9 million, bigger than last year’s of just over two million
- DW8 closed up 1.56 per cent at 6.5 cents per share
Digital Wine Ventures (DW8) has seen its revenue increase 410 per cent to $2.6 million in the 2021 financial year.
The company had a very successful year in strong growth for its WINEDEPOT logistics business, establishing a national distribution centre in Barnawartha.
Over the year, the online beverage merchant shipped nearly 205,000 cases, up from 23,801 in the year before.
Notably, DW8 plans to keep the momentum going this current financial year as it expects to ship one million cases.
Gross profit increased to $19,414, while the company reported a loss after tax of $6.9 million, bigger than last years of just over two million.
Total equity has been reported at more than $8.7 million, a big jump from FY20’s $503,000.
DW8 has noted that its sales pipeline remains strong despite the COVID-19 pandemic.
Highlights from the year include DW8 partnering with giant online retailers eBay and Amazon.
The number of shareholders in the company has grown to more than 10,300, a 477 per cent increase from this time last year.
CEO Dean Taylor is pleased with the results and said it was a “massive year for DW8”.
“Despite having been involved in eight start-ups, I have never had the honour of leading a team that has delivered as many strategic goals as this one has,” Mr Taylor said.
“While our annual report provides shareholders a glimpse of what we are achieving, it does not show how much progress is being made behind the scenes.”
DDW8 closed up 1.56 per cent at 6.5 cents per share.