Naked Wines appoints new CFO as losses widen
For FY25 the company has set a guidance of revenues between £240m-270m and an adjusted EBIT of £3m-8m
Naked Wines has appointed Dominic Neary as its new CFO after it posted a loss before tax of £16.3m for the year ended 1 April 2024, up from £15m in the same period last year.
Alongside this, the company posted an adjusted EBIT of £5m, down from £14.9m in the same period last year.
However, this figure was at the upper end of Naked’s guidance range of £2-6m.
Overall, the company posted total sales of £290m, down 18% year-on-year and down 13)% on a 52-week comparable basis.
Neary joins Naked Wines from his position as CFO at Mind Gym PLC where he helped return the business to profitability.
He previously spent 10 years in various positions at Reckitt Benckiser culminating in the role of regional finance director of its North American Pharmaceuticals business.
He will succeed James Crawford who, as previously announced, is stepping down as CFO in the Autumn of 2024 and is supporting the CFO transition process.
For FY25 the company has set a guidance of revenues between £240m-270m and an adjusted EBIT of £3m-8m.
CEO Rodrigo Maza said: “I am honoured to lead Naked Wines into its next chapter and our new team is fully focused on returning Naked to profitable growth. Over the past few months, we have made significant strides by strengthening our financial foundations, embedding resilient management practices, and importantly, crystallising a robust customer proposition.
“This proposition not only drives our mission to enable independently-minded wine drinkers to enjoy great wine without the guesswork but ultimately ensures long-term engagement and a competitive advantage.”
He added: “I’m delighted to announce Dominic’s appointment as our new CFO. His experience in consumer and digital businesses, coupled with his international and US experience, make him a valuable partner as we focus on returning Naked Wines to sustainable profitable growth.”
