Business
Revision of Full Year Results Date, Trading Update
Revision of Full Year Results Date, Trading Update.
About this update from Naked Wines Plc
[{"type":"text","content":"\n\n4 July 2023\n \nNaked Wines plc\n \n(\"Naked Wines\" or \"Group\")\n \nRevision of Full Year Results Date, Trading Update\n \nNaked Wines plc announces that the release of its audited results for the 53 weeks ended 3 April 2023 (the \"FY23 Results\"), due on 6th July, has been delayed. A further announcement of a revised date will be made in due course.\n \nThe Group reiterates the guidance given previously for the FY23 results for:\n \n● Total revenue of c.£350m (flat on a reported basis, -6% to -8% on a comparable basis1)\n● FY23 adjusted EBIT of £15-18m, expected at the upper end of the guided range\n● Closing cash of £10m, with £49m total liquidity through continued access to our credit facility\n \nSales in the first quarter of the financial year have been below expectations largely as a result of reduced levels of new customer recruitment. Extrapolating current trends through the remainder of the financial year would result in sales of around £300m.\n \nAs announced separately today, the Board has been strengthened and is revising the Group's plans with the goal of delivering sustainable, profitable growth and cash generation. In light of the revisions to the Group's plans the Auditors require additional time to complete their procedures.\n \nNotes:\n1) FY23 contained 53 weeks versus 52 weeks in the previous financial year. We provide comparable 52 week constant currency financial information to facilitate comparison with our prior financial period, 52 weeks ended 28 March 2022. For reference, we call this 52 week constant currency measure '52 week comparable' (or simply comparable).\n \n \nFor further information, please contact:\n \n\n\n\nNaked Wines plc\nNick Devlin, Chief Executive Officer\nJames Crawford, Chief Financial Officer\nClara Melia / Chris MacDonald\n \n\n\[email protected]\n\n\n\n\nInvestec (NOMAD & Joint Broker)\nDavid Flin / Ben Farrow\n \n\n\nTel: 0207 597 5970\n\n\n\n\nJefferies (Joint Broker)\nEd Matthews / Gill O'Driscoll\n \n\n\nTel: 0207 029 8000\n\n\n\n\nInstinctif (Financial PR)\nGuy Scarborough / Damian Reece\n\n\nTel: 07917 178 920 / 07931 598 593\n\n\n\...