No recession in quality wine demand
Majestic Wine has again released a solid set of results with sales for the year ending March 28 up 9.6 per cent to£162.5 million.

The figures mark the 12th consecutive year of record profits for the retailer. They also buck the current trend of consumer anxiety, suggesting that the market for quality wine remains strong even when other sectors are suffering.

Majestic recorded a rise in pre-tax profit before exceptionals of 23.9 per cent to£13.2 million. Like-for-like sales rose 8.3 per cent. The retailer's fortunes have continued into this financial year with UK like-for-like sales for the first ten weeks to June 6 up 7 per cent.

Majestic chief executive Tim How said: 'We operate in an expanding market where consumers continue to show a strong interest in a greater choice of better quality wines. We believe that the prospect for the futures growth of Majestic are very good.'

The retailer opened seven stores in the year and resited two others, bringing the total portfolio to 122. Several more stores are at advanced stages of negotiation.