Naked Wines said it was ‘mindful of the levels of macro-economic uncertainty’ in the market
(Picture: Naked Wines)Online retailer Naked Wines saw its stock price crash 35% this morning despite posting pre-tax profit of £2.9 million, versus a loss of £10.7 million in its full year results to 28 March.
Revenue also increased by 3.0% to £350.3 million from £340.2 million. However, the results revealed that the company’s cash balance had more than halved to £40 million from £85 million a year agocausing panic across the markets.
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