Profits up for Majestic
Majestic has grown pre-tax profits by 20% to £8.8 million in the half-year to September 26 – but saw like-for-like sales in shops drop for the six weeks after the period ended, it has reported.
The chain’s total sales grew 8.7% to £127.8 million, with active customer numbers registered on its database up 7.7% to 534,000.
Eight new shops opened during the period, followed by three more since the end of September, bringing the estate to 174.
Meanwhile online sales grew 8.7% on the year before and now make up 9% of Majestic’s UK retail sales.
Chief executive Steve Lewis said: “I am very pleased that Majestic has achieved profit growth of 20% in the half-year and we are very well prepared for the important Christmas trading period.”
In his statement, chairman Phil Wrigley said: “The group has achieved a very strong result. The average spend per transaction at our stores has risen to £125 from £122 and the average bottle price of still wine purchased at Majestic is now £7.13, up from £6.67 last year.
“We are encouraged that our proposition, built on the strength of our product range and excellent customer service, continues to attract new customers to Majestic.”