Naked Wines has reported narrowing losses in its full-year results spurred by a “sharp acceleration” in sales since the outbreak of the coronavirus pandemic in the West.
The online wine retailer reported that its pre-tax losses had shrunk 46% to £5.4m in the 52 weeks to March 30, bolstered by a 14% rise in revenue to £203m year on year.
The etailer’s growth, which was up 20% in the US during the period and marginally ahead of market expectations overall, was aided by demand amid lockdown.
Naked Wines said sales were bolstered by “Covid acceleration in final weeks of the year” and that sales have soared 81% in the first two months of its current financial year.
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