UK: Majestic posts impressive six-month figures
Majestic Wine PLC today posted a jump in profit for the six months to the end of September. The UK wine warehouse chain announced a rise before the exceptional item, tax and amortisation of goodwill by 42% to £3.96m (US$6.68m).
Total sales for the company grew by 21.8% year-on-year.
In a press release, chief executive Tim How said: "We are confident that the differentiation of our business from the competition, and the enthusiasm of our people, will enable Majestic to continue to grow strongly in an expanding UK wine market."
The company has seen strong growth in still wine sales particularly from the Loire, Southern France, South Africa, Chile and New Zealand. Champagne, rose and beer sales grew strongly, partly as a result of the excellent summer weather.
In a separate development, Paul Dermody has been appointed to the board as non-executive director.
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