NWINF - Naked Wines faces crucial year of adjustment to post-pandemic life
(NewsDirect)
Naked Wines PLC (AIM:WINE, OTCQX:NWINF)chief financial officer James Crawford speaks to Thomas Warner fromProactive following the release of the company's full year resultsfor 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, adjustedprofit of £17.4 million which exceeded initial guidance owing in partto cuts to marketing expenses. He says inventory levels aligned withexpectations at £166 million, with a net cash position exceeding £10million.
Although results were delayed due to rigorous auditingand revised growth assumptions, Crawford emphasised the company'sstrong liquidity position, backed by £50 million in assets. Heacknowledges uncertainties in a volatile market but expressesconfidence in Naked Wines' ability to drive profitability andgrowth, signaling a positive outlook for the coming fiscalyear.
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