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

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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