Future Of British Business
Naked Wines Soars as Surprise Profit Squeezes Short Sellers
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Naked Wines Plc shares rallied Wednesday, rising as much as 16% after the online vino retailer predicted it would report a surprise full-year profit despite a fading pandemic boost.
The gain was the steepest in more than five months, trimming the decline for the past year to 57%, after the company said adjusted Ebit for the year ended March 28 would be in “low single-digits.” Analysts at Jefferies had expected a small loss, while Investec had predicted breakeven.