Fine wine and internet sales favour Majestic figures

Published: 23 July, 2008

Majestic has posted strong profits today (June 16) with increasing sales of fine wine and online purchases driving results.

Total sales were up 3.1% to 197 million for the year ending March 31 2008 with profits before tax increasing by 3.4% to 16.7m.

This was driven, in part, by the a strong performance in the fine wine sector with sales increasing by 25% year-on-year to occupy 4.2% of Majestic's total sales.

Some 45 Majestic stories now have a dedicated fine wine display with plans to extend the scheme to a further 10 stores in 2008.

Internet sales were up also and now represent 7.9% of the company's total retail sales.

Tim How, Majestic chief excutive, said: "Although the consumer environment is challenging, Majestic has a clearly differentiated retail model and is well positioned for future growth in this highly competitive market."

Figures showed the average spend on a bottle of wine in store now stands at 5.98 compared to 5.75 in 2007 - the average spend has increased from 123 to 133 over the last 12 months.

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