Pre-tax profit swells to £6.5 million
Majestic Wine, the UK's largest wine warehouse, has revealed impressive results for the 26 weeks ending September 26.

Pre-tax profit increased by 17 per cent to£6.5 million, compared with£5.5 million last year. Total sales reached£88.3 million, against£80.8 million the previous year, and like-for-like sales rose 6.2 per cent, in contrast with an increase of 5.5 per cent the year before.

Orders placed via the web site were up 43 per cent and represent 6.4 per cent of the company's total UK retail sales.

Fine wines continued to show a steady growth and sales of wines priced at£20 or more increased by 33 per cent from last year.

The wine chain now has 133 stores, increasing from 125 last year. It has openings planned in Dulwich, Sonning, Aberdeen, Colchester and St Albans for the first half of next year.

The company intends to commence share buy-back up to a value of£20 million within the next few months.

Majestic chief executive Tim How said: 'I am very pleased with our first-half performance and the rate of store openings.' Commenting on present trading, he added: 'Like-for-like sales for the five weeks from September 26 to October 30 were up 4.3 per cent.'

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