Majestic Wine reports 15% profits rise
Monday 18 June 2012
Wine merchant Majestic
Wine raised a glass to a 15% rise in annual profits today as strong
growth in vintages from Argentina, Italy and Spain helped drive sales.
The group, which has 181 stores in the UK, said the number of customers who made purchases in the last year increased by 11% to 568,000, while the average bottle price of still wine was up to £7.34 from £6.94 the previous year.
Majestic also saw an 18.5% jump in sales of fine wines - priced at £20 per bottle or more - from Burgundy, Bordeaux and New World ranges.
The group, which recorded 2.6% growth in like-for-like sales in the year to April 2, reported pre-tax profits of £23.2 million, compared to £20.3 million the previous year.
However, Majestic said like-for-like sales have slowed to 0.6% in the first 10 weeks of the new financial year - reflecting comparisons with the Royal Wedding in 2011 - and warned the trading environment was likely to continue to be difficult.
The group said it was confident of being able to expand to 330 stores after opening 16 in the last financial year and a further three in Northallerton, Esher and Edinburgh since the year end.
Total group sales were up 9% to £280.3 million as a wide range of wines from New Zealand, South Africa, Chile, Portugal and the Loire all performed well.
Online sales were up 8% on last year, representing 10% of total UK retail sales. The average transaction value rose 1.4% to £144 and the company processed 190,000 orders, up from 175,000 last year.
There was further cheer for shareholders as the group lifted its total dividend by 20% to 15.6p.
Oscar Pistorius trial: Defence witness contradicts athlete version
Oscar Pistorius trial: The case against Oscar Pistorius – and why the prosecution claims his story doesn't add up
South Korea ferry: Captain Lee Joon-seok could face criminal investigation as over 280 remain missing
Peaches Geldof dead: Private funeral for the family and friends of the socialite will take place next week
Shropshire criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
- 2 The Hobbit: There and Back Again set for possible title change
- 3 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...