“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.
- 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.”