Naked Wines plc (GB:WINE) has released an update.
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Naked Wines plc has reported a year-on-year revenue decline to approximately £290m, but ends the fiscal year with a stronger cash position of £20m, outperforming its own forecasts. The company witnessed a reduction in operating costs and inventory, and anticipates an adjusted EBIT of about £5m, while statutory operating losses are expected between £13m to £18m. Despite a challenging FY24, CEO Rodrigo Maza remains optimistic about the company’s leaner operations and the potential for profitable growth in the upcoming year.
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