Fine wine sales lift Majestic
A 25 per cent rise in fine wine sales helped Majestic to boost profits for its full-year, the group has announced.
Majestic sales and pre-tax profit rose three per cent to £197m and £16.7m respectively for the 12 months ended March 31st, the wine warehouse chain said on Monday.
Leading the performance was strong growth in fine wine sales, which Majestic said now made up around four per cent of the UK’s retail wine purchases.
The group plans to put fine wine display areas in a further 10 stores this year, bringing the total to 55.
Average spend on a bottle of wine was also up, something the industry as a whole will welcome as it contends with duty rises and a wavering economy.
Majestic said average spend per transaction rose eight per cent to £133. The average bottle price of still wine purchased increased to £5.98 from £5.75 last year.