Proactive Investors - Run By Investors For Investors

Majestic Wine posts record full year profits as sales surge 8.9pct

Majestic Wine posts record full year profits as sales surge 8.9pct

Majestic Wine (LON:MJW) reported that despite a tough trading environment, wine sales were strong in the past financial year, helping to to record full year profits.

Pre-tax profits for the year to April 2 surged 14.5 percent to £23.2 million as sales increased 8.9 percent to £280.3 million.

The increase in sales came as the group opened a record sixteen stores, while the number of customers rose 11.1 percent to 568,000 and average spend per transaction climbed £2 to £128.

Since the end of the year, Majestic, which aims to expand to 300 locations, has opened a further three stores, giving it a total of 181 stores in the UK.

Like for like sales in the UK, which exclude the impact of new store openings, were up 2.6 percent for the year and have increased 0.6 percent in the first ten weeks of the current financial year.

The group noted that online sales increased 7.8 percent during the year and now represent 10 percent of total UK sales.

“Majestic has a clearly differentiated operating model, with a focus on delivering exceptional customer service that has proved resilient in a challenging economic environment,” said chief executive of Majestic Wine Steve Lewis.

The group decided to increase its full year dividend by 20 percent to 15.6 pence per share.

View full WINE profile View Profile

Majestic Wine PLC Timeline

Newswire
April 10 2015

Related Articles

US bills and cannabis plant
February 27 2019
CEO Mike Withrow has built AREV into what is now a cannabis and hops company that owns a series of promising businesses
true leaf pet product
March 29 2019
The company says both the cannabis and pet industries represent high-growth industries
Polish pizza
March 27 2019
In 2018, DP Poland’s system sales rose by 24% to 72mln Polish zloty (PLN) from PLN 58mln in 2017, despite a tough second half to the year as aggregators took a bite from its business
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use