Majestic Wine celebrates 20% rise in half year profits

Majestic Wine is celebrating a 20% rise in half year profits- helped by customers buying more expensive bottles of wine.Majestic Wine celebrates 20% rise in half year profitsThe company made a pre tax profit of £8.8 million in the year to 26 September, compared with a £7.3 million profit of a year earlier.

Its like for like sales-  which excludes the impact of new store openings, rose 2.7%.

Majestic’s half year revenues increased by 9% to £127.8 million.

The company said that sales of still wines costing £20 or more per bottle rose by one fifth from a year ago.

Majestic chief executive Steve Lewis said the company was “very well prepared for the important Christmas trading period”.

During the six months to 26 September, Majestic opened eight new stores. Since then, it has launched a further three, bringing its total number of shops up to 174.

It has also increased the number of its outlets that sell expensive “fine wines” to 122 from 96 a year earlier.

Its online sales during the half-year rose 9% and now represent 9% of its total UK sales.

Visitors to Majestic’s shops have to buy a minimum of six bottles of wine or spirits, however online shoppers using its website have to purchase at least 12 bottles.

November 14, 2011  Tags: , , , , , ,   Posted in: Building Businesses, Business Development, Business Profits, Business Win, Growing Business, Uncategorized, Winning Business, Winning Businesses

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