By Daniel Hunter

Wine retailer Majestic Wines have reported a 14% rise in annual profits as sales continue to increase.

Financial results, released on Monday, showed a pre-tax profit for the year to 2 April of £23.2m, up from £20.3m a year earlier.

With like-for-like sales rising by 2.6%, and revenue by 9%, it has been an impressive year for the wine retailer.

Majestic said that sales of fine wine - bottles up £20 - rose 18.5%, and now represent 6.2% of UK store sales.

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