UK's Naked Wines rises on CFO appointment, as earnings meet expectations
28/08/2024 09:34
** Online wine seller Naked Wines WINEW.L up nearly 4% at
53p
** Appoints Dominic Neary as next CFO, posts its full-year
earnings in line with expectations
** Neary, currently CFO at Mind Gym MIND.L , will join
WINEW as CFO on Nov. 11
** Co posts an adjusted operating profit for the year ended
on April 1 of 5 million pounds ($6.62 million), within its
expected range of 2 million pounds - 6 million pounds
** Adj. operating profit in line with brokerage Jefferies'
expectations
** Co adds that its operating cost base has reduced, the
inventory overstock position is being addressed, a new credit
facility has been agreed, and its cash position has improved
** "The business now appears on much firmer foundations, the
fundamental Naked Wines concept continues to be differentiated,
and the new CEO is working hard to return the business to
growth" - Jefferies
** As of last close, stock down nearly 11% YTD
($1 = 0.7557 pounds)
(Reporting by Radhika Anilkumar in Bengaluru;)
((Radhika.Anilkumar@thomsonreuters.com;))