Aug 28, 2024 / 08:00AM GMT
Rodrigo Maza - Naked Wines PLC - Chief Executive Officer - Designate, Executive Director
Hello, everyone, and welcome to Naked's FY24 results presentation. We're very excited that you're joining us. I'm Maza, I'll be sharing some thoughts with you later today as well as JC, our CFO; and Rowan, our Chairman.
I hand it over to you, Rowan.
Rowan Gormley - Naked Wines PLC - Non-Executive Independent Chairman of the Board
Good morning, everybody. I'm delighted to report that Naked Wines is in much better shape today than we were 12 or even 6 months ago. We've laid solid foundations and the team have made substantial progress in fixing the problems of the past. Specifically, costs have been cut very substantially to match the current trading environment.
Inventory commitments have been cut intelligently so that we are now realizing cash from inventory and being done in a way which protects our core winemakers. And we now have a long-term funding facility in place that gives us the flexibility we need to restore Naked to growth.
At the same
Full Year 2024 Naked Wines PLC Earnings Call Transcript
Aug 28, 2024
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