Majestic Wine – raise your glass for some great results once again
Majestic Wine, the UK's largest wine warehouse chain, announced excellent set of results for the 26 weeks ended 27 September 2010.
Some have questioned the ability of the group to keep growing in its UK heartland but these interim results look truly exceptional
On total sales up 10.2% to £117.6m profit before tax increased by 20% to £7.3m and diluted earnings per share were up 17% to 8.2p. The interim dividend was lifted 17.9% to 3.3p with the forecast annual yield c3.3% at the current share price. We are highly impressed with the headline numbers with like for like sales in UK retail stores up 7.6%, active customers, up 14% to 496,000 and online sales up 8.3% on last year and now representing 9.1% of UK retail sales. The latter is surely where further gains can be made. The Group’s Lay & Wheeler…