Majestic Wine: H1 Profits Rise By 20 Per Cent
Published on Nov 14 2011 6:44 PM in Drinks
Majestic Wine has announced a 20 per cent rise in its first half profits for 2011. The warehouse group recorded a pre-tax profit of £8.8 million in the 26 weeks to 26 September 2011; this was a rise of £1.5 million, up from £7.3 million in the same period of 2010.
Sales of bottles of still wines with a price tag of £20 or more increased by one-fifth from last year. Internet sales rose by nine per cent over the half year and now accounted for nine per cent of total UK sales, said the company. The company was "very well prepared for the important Christmas trading period", commented Steve Lewis, chief executive of Majestic Wine, on the results.
Majestic Wine currently operates 174 shops across the UK. (22 Nov)
© 2011- ESM:European Supermarket Magazine