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Majestic profits up 9% in first half

Majestic Wine has reported a 9 per cent increase in half year pre-tax profit as like for like sales rose 5.4% for the 26 weeks ended 28 September.

CITY & CORPORATE

Majestic profits up 9% in first half

Majestic Wine has reported a 9 per cent increase in half year pre-tax profit as like for like sales rose 5.4% for the 26 weeks ended 28 September.

Pre-tax profit in the period rose to £6.1m from £5.6m. Total sales were up £12.6m to £106.7m after including £6m from fine wine specialist, Lay & Wheeler, which it bought in March 2009.

Like for like sales in UK retail stores up 5.4% while online sales increased 24.6% on last year and now contributing 9.2% of UK retail sales.In current trading Like for like sales through Majestic stores for the five weeks from 29 September to 2 November 2009 were up 6.0 per cent.

Commenting on the results Steve Lewis, Chief Executive, said: "I am pleased that, in the half year, Majestic has achieved profit growth of 9.0%. It is encouraging that in the current economic conditions our loyal customers continue to find the Majestic proposition compelling."

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