Partly Cloudy

Partly Cloudy

max temp: 20°C

min temp: 15°C

ESTD 1874 Search

UK: Majestic Wine defies washout summer to post higher first-half profit

12:58 19 November 2012

Majestic Wine has reported  a 4% rise in half-year profits

Majestic Wine has reported a 4% rise in half-year profits

MAJESTIC Wine today posted a 4% increase in half-year profits despite the washout summer ruining a large number of outdoor events.

shares

The wine merchant, which has 189 stores and generates around 10% of retail business online, said the improvement to £9.2 million for the six months to October 1 demonstrated the resilience of the business.

Sales through the store network grew by 4.7% to £108.7 million, with the figure when excluding changes in store space up by 0.6%. In the six weeks since then, like-for-like sales have risen by 1.2%.

Majestic said: “During the summer sales were adversely affected by unseasonable weather that resulted in the cancellation of a large number of outdoor events.”

It saw an 11% increase in the number of customers on its database who have made a purchase in the last 12 months and said average spend per transaction was up by £1 to £126. The average bottle price of still wine purchased at Majestic is now £7.46, up from £7.13 a year earlier.

Chairman Phil Wrigley said: “We recognise that the environment in which we operate is likely to remain challenging.

“We are most encouraged by the number of new customers attracted to Majestic and we are well prepared for the very important Christmas trading period.”

shares

0 comments

Adnams chairman Jonathan Adnams outside the company's brewery and distillery complex in Southwold.

Southwold-based Adnams today reported a 12% increase in first half profits to £962,000, with one-off gains on the sale of three pubs offsetting a dip in revenues.

The Treasury has sold the first tranche of shares from the taxpayer-owned stake in the Royal Bank of Scotland Group.

The Treasury has sold the first tranche of shares in Royal Bank of Scotland for £2.1billion, but the taxpayer has made a loss of around £1bn on the sale.

Natasha Davies, Tom Holloway, Ollie Prescott, Rachel Wilby and Omar Khattab, the five new appointments at Cloud Media Insight.

Ipswich-based media monitoring and analysis firm Cloud Media Insight has appointed five new executives.

Stansted Airport, part of the Manchester Airports Group.

Independent management, design and construction consultancy Pick Everard is set to expand into the aviation sector.

The new branding for Tarmac following its acquisition by CRH.

Iconic contruction brands Tarmac and Blue Circle have been combined to create a UK leader in the building materials sector.

Millions have been paid to passengers since 2012

There was a £900,000 increase in the amount paid to delayed passengers in just one year – from £1.4m in 2013/14 to £2.3m in 2014/15.

Anne Holt of Baker Tilly.

East Anglia’s many ports and logistics businesses are being advised to prepare for new European Union customs duty arrangements which come into force next year.

Alan Cowie, communications and events officer at the| New Anglia Growth Hub.

New Anglia Growth Hub is to host a funding workshop, bringing together five providers of business support under one roof.

The Birketts Tour de Wellbeing cycle team, from left, Matthew Potter, Ben Burt, Jolyon Berry (front) Greg Jones and Tom Shape.

Members of the employment team at regional law firm Birketts raised more than £1,000 for Breast Cancer Care by taking part in the Tour de Wellbeing virtual cycle race, held by EMCOR UK to coincide with the Tour de France.

A plane in Flybe's latest purple livery.

Regional airline Flybe has confirmed its 2015-16 winter schedule to and from Stansted.

Most read

Most commented

Topic pages