10th Dec 2024 19:47
Naked Wines PLC - Norwich, England-based online wine seller - Pretax loss narrows to GBP5.6 million in the 26 weeks to September 30 from GBP9.7 million a year prior. Revenue, however, is 15% lower at GBP112.3 million from GBP132.3 million. Helping to trim its loss was the non-repeat of an impairment of non-current assets of GBP11.5 million suffered a year prior. Says early peak season trading has been solid; liquidity and cash continuing to improve. Financial 2025 performance is currently expected to be in line with the guidance previously given. In addition, notes US inventory, whilst in line with prior guidance, remains overstocked. Naked Wines says it is reviewing options to release capital from inventory; some of these would drive improved cash in financial 2026 and 2027 but could lead to increased liquidation costs, and result in earnings before interest and tax at the lower end of guidance. "A performance review is underway, proactively evaluating options to maximise shareholder value; we will report back by the end of the financial year," company says. Chief Executive Rodrigo Maza, says: "Naked Wines is in a better position, both financially and strategically. We now have robust financial foundations, and our members remain loyal and engaged. Our strategic initiatives centred around customer acquisition and retention are generating learnings, and we are currently experiencing solid trading during the peak season period." Read More
