Naked Wines has posted very much improved results for the year to March 28th. With sales reaching £350.3 million, a five per cent rise on a constant currency basis on the prior year and 76 per cent when compared with its results pre-pandemic. This resulted in adjusted EBIT reaching £2 million as compared with the £1.5 million loss incurred for the previous year.
The business, which had invested £41.3 million in new customer recruitment across the year, had boosted its active customer numbers by 80 per cent and grown the all-important subscriber base for its Angels proposition by 9 per cent to reach 946,000 customers.
CEO Nick Devlin commented: “In the past year we moderated investment responsibly as we navigated inflationary challenges. In that context, I am pleased with the substantial growth in sales to repeat members supported by sales retention above our expectations for the year at 87 per cent, and our ability to deliver profitability.
“Looking ahead, Naked Wines is well-positioned to continuue to grow amid a challenging consumer environment. Our enhanced scale, attractive unit economics and healthy balance sheet allow us to continue to invest for growth.”
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