Fine wines help retailer press ahead
Majestic Wine revealed a robust rise in pre-tax profits this morning, together with strong like-for-like sales.

The first-half results showed pre-tax profits increased by 18 per cent to£5.9 million. Sales reached£80.8 million.

On current trading, Majestic Wine chief executive Tim How said: 'Sales growth has continued to be robust in a challenging retail market. Like-for-like UK sales for the six weeks from September 27 to November 7 were up 5 per cent.'

The retailer also reported a 43 per cent increase in sales of fine wines priced at£20 and above. Average spend per transaction rose to£115 compared with£110 last year.

Two stores were opened during the period. The retailer also experienced a dramatic 43 per cent sales increase for fine wines during the period.

Wines from Spain, California, Chile, Argentina and New Zealand all sold particularly strongly.