By Maximilian Clarke
A 10% growth in revenue has seen Majestic Wine profits jump 20% for the 6-months ending September.
Strong performance online coupled with a marked increase in sales of ‘fine wine’- bottles priced in excess of £20 contributed to the gain, which sent share dividends up 15.2% per share.
“I am pleased to announce that, for the six month period ended 26 September 2011, the Group has achieved a very strong result with profit before tax increasing 20% to £8.8m and revenues up 8.7% to £127.8m,” commented Steve Lewis, majestic’s Chief Executive.
This focus on premium wines- the average price of a bottle sold increased by almost 50p- has seen Majestic benefit from underlying market conditions that have driven increased polarisation within retail- with budget and high end retailers thriving off decreased sales in the middle.
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