Naked Wines (LON: Wine) reported a 80% rise in sales in the first half.
The company revealed that sales increased from £87.5 million to £157.1 million as more people ordered wine homes amid the restrictions.
Listed companies are expected to raise their full-year sales forecasts, with full-year sales expected to rise between 55-65%, up from previous 40% forecasts.
Nick Devlin’s CEO said: “Naked wine is bigger and better business than 12 months ago. The last six months have been a key time in the company’s development.”
“We have brought about extraordinary growth and a lasting step in organizational size and efficiency. We have a business that today is not only bigger, but is structurally improved and ideally positioned to bring about sustainable growth in the coming years.
“In the end, the most significant impact of Covid-19 on naked wine, although not seen in these preliminary results, has accelerated the growth of the online wine category and encouraged consumers to try new, better ways to buy wine.”
“We had to quickly resolve a set of operational challenges by providing transformative growth against the backdrop of the new working conditions required by Covid-19. We do this while maintaining a high level of customer satisfaction and are extremely proud of the resilience, flexibility and capabilities that our staff around the world see,” he added.
Naked Wine Stocks (LON: Wine) rose 7% in early trading, currently at -0.30% at 497,50 (1032GMT).
