Majestic Wine has increased its profits by 4.2% in the first half of its financial year.
Despite a dip in UK retail like-for-like sales due to the impact of Easter and last year’s Jubilee celebrations, Majestic Wine, which has recently invested in new stores and technology, saw its pre-tax profit grow from £9.2 million last year to £9.5 million. Total revenues rose by 3.3% to £130.2 million.
Majestic chairman Phil Wrigley said: “Our ongoing investment in new stores, consumer facing technologies and development of our people has continued to attract considerable numbers of new customers. Majestic has a clear strategy to deliver growth from the expansion of the store estate, increasing revenue from business customers, growing e-commerce transactions and developing sales of fine wine.”
The wine specialist plans to open two stores in Lewes and in Petersfield after already opening three new stores in the first half and another three since September bringing the total number of shops to 198.
