18th Nov 2021 13:31
(Correcting year-to-date price change.)
(Alliance News) - Naked Wines PLC - Norwich-based online wine retailer - Sales and profit rise in the first half of its financial year, but it lowers its guidance for the full year. Total sales rise by 1.4% to GBP159.3 million in the six months that ended September 27 from GBP157.1 million a year before. This is a 6% increase on a constant currency basis. The company attributes this growth to "strong retention" and demand by existing customers. Swings to pretax profit of GBP1.3 million from a GBP8.9 million loss.
Lowers sales guidance for all of financial 2022 to between GBP340 million and GBP355 million from GBP355 million to GBP375 million. This reflects lower investment in finding new customers, with this now expected to be between GBP35 million to GBP45 million, reduced from GBP40 million to GBP50 million. "We would have liked to invest more in new customers and at a greater payback but ultimately decided to constrain our growth investment due to higher than anticipated new customer acquisition costs," Naked Wines says. Declares no interim dividend.
Current stock price: 575.00 pence, down 15% on Thursday
Year-to-date change: down 14%
By Abby Amoakuh; [email protected]
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