Naked Wines faces “crucial year” of adjustment to post-pandemic life

–News Direct–

Naked Wines PLC (AIM:WINE, OTCQX:NWINF) chief financial officer James Crawford speaks to Thomas Warner from Proactive following the release of the company's full year results for the 53 weeks to 3 April 2023.

Crawford gives his take on the highlights from the results, which included a 1% increase in total sales to 354mln, adjusted profit of 17.4 million which exceeded initial guidance owing in part to cuts to marketing expenses. He says inventory levels aligned with expectations at 166 million, with a net cash position exceeding 10 million.

Although results were delayed due to rigorous auditing and revised growth assumptions, Crawford emphasised the company's strong liquidity position, backed by 50 million in assets. He acknowledges uncertainties in a volatile market but expresses confidence in Naked Wines' ability to drive profitability and growth, signaling a positive outlook for the coming fiscal year.

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