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    WINE   GB00B021F836

NAKED WINES PLC

(WINE)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/11 11:35:12 am
715 GBX   -9.84%
06/11NAKED WINESá : sales surge comes at a cost
RE
06/11NAKED WINESá : Turns To FY21 Loss, Sales Soar 68%
MT
06/11NAKED WINESá : Cheers! Naked Wines sales surge 68 per cent on strong US performance
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Naked Wines : sales surge comes at a cost

06/11/2021 | 04:42am EDT
FILE PHOTO: A glass of French red wine is displayed at the Chateau du Pavillon in Sainte-Croix-Du-Mont,

(Reuters) - Naked Wines Plc's annual sales leapt 68% as more people ordered wine online during lockdowns, but a jump in advertising costs led to a bigger loss, results showed on Friday.

Naked Wines, which sells to its 300,000 customer base via a subscription model, said its advertising costs more than doubled to 42.3 million pounds, or about 12% of total sales, for the year ended March 29, up from 19.8 million pounds a year earlier as it chased new customers in the U.S. and UK.

That paid off, with the Norwich-based company reporting a 53% surge in total customers and a 78% growth in U.S. sales, now its largest market.

However, its shares fell 1.5% to 782 pence by 0729 GMT as its loss before tax nearly doubled to 10.7 million pounds ($15.15 million). Analysts had estimated a loss of 10.4 million pounds, according to Refinitiv Eikon data.

"Stay-at-home trends have driven a step-change in volumes for the online wine sector, which Naked is capitalising on - with some encouraging signs of a permanent channel shift from offline to online," Stifel analysts said.

However, it is uncertain if the trends would hold up in a post-COVID world, they added.

Naked said its strong performance has continued in the new fiscal year, and estimated an investment of 40-50 million pounds in new customers.

Majestic Wine, spun off from Naked Wines in 2019, has also seen record online sales in the pandemic. The specialist wine seller said on Friday it was bracing for its "biggest ever summer" as it reopens stores.

($1 = 0.7061 pounds)

(Reporting by Vishwadha Chander in Bengaluru;Editing by Elaine Hardcastle)


ę Reuters 2021
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06/11NAKED WINESá : sales surge comes at a cost
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Financials
Sales 2021 338 M 477 M 477 M
Net income 2021 -11,2 M -15,8 M -15,8 M
Net cash 2021 58,1 M 82,0 M 82,0 M
P/E ratio 2021 -67,5x
Yield 2021 -
Capitalization 523 M 738 M 738 M
EV / Sales 2021 1,37x
EV / Sales 2022 1,26x
Nbr of Employees 333
Free-Float 77,7%
Chart NAKED WINES PLC
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Technical analysis trends NAKED WINES PLC
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 852,50 GBX
Last Close Price 715,00 GBX
Spread / Highest target 39,2%
Spread / Average Target 19,2%
Spread / Lowest Target 3,50%
EPS Revisions
Managers and Directors
NameTitle
Nicholas James Devlin Group Chief Executive Officer, COO & Director
Shawn Tabak Chief Financial Officer & Director
Ian Andrew Harding Chairman
Darryl Rawlings Chairman-Elect
David Anthony Stead Senior Independent Non-Executive Director
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