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Majestic Wine PLC Interim Results

“Profit increase of 20%, like for like sales up 7.6%”

Majestic Wine PLC (“Majestic”), the UK’s largest wine warehouse chain, today announces its interim results for the 26 weeks ended 27 September 2010.

Majestic Wine PLC Investor Information | Download the full statement (PDF format)

Highlights

  • Profit before tax increased by 20.0% to £7.3m (2009: £6.1m).
  • Interim dividend increased 17.9% to 3.3p net per share.
  • Total sales up 10.2% to £117.6m (2009: £106.7m).
  • Like for like sales in UK retail stores up 7.6%.
  • Substantial increase in active customers, up 14.0% to 496,000.
  • Online sales increased 8.3% on last year and now represent 9.1% of UK retail sales.
  • Sales of fine wine continued to increase, with sales of still wine priced at £20 and above increasing by 20.2% on last year.
  • Two new stores in Redhill and Windsor. Since the end of September we have opened in Totnes, Ashbourne, Bracknell, Canterbury, Cobham and a second store in Cardiff.
  • We now operate from 160 stores in the UK and aim to enlarge Majestic to at least 250 locations.
  • Lay & Wheeler, our fine wine specialist, enjoyed considerable success selling en primeur wines from the highly regarded 2009 Bordeaux vintage.
  • Wine and Beer World in France recorded sales growth of 22.9% on constant currency basis.
  • In the six weeks from 28 September to 8 November 2010, like for like sales in our UK stores up 7.4%.

Commenting on the results Steve Lewis, Chief Executive, said:

“I am delighted that Majestic has achieved profit growth of 20.0% in the half year and I am very encouraged that we have been able to attract so many new customers.”

Majestic Wine PLC Investor Information | Download the full statement (PDF format)