Majestic Wine, the UK’s largest specialist wine retailer, has reported a fall in pre-tax profits of almost 50%, according to newly posted accounts to Companies House.
Pre-tax profits slumped to £7.7m in 2025, down from £14.3m in 2024, the financial results for the year ended March 31 2025 showed.
Operating profits also fell from £21.7m in 2024, to £16m in 2025, while revenues rose from £385m to £386m.
Despite a “highly competitive” market, The Fortress Investment Group-owned retailer said it had grown sales and achieved profit in line with expectations.
Over the 12 months, Majestic opened six new stores, including its first shop in Jersey.
It also acquired the Vagabond wine bar business for £6.5m and temporarily closed its flagship Battersea Power Station site for an extensive refurbishment.
According to Majestic, pre-acquisition costs were incurred ahead of its purchase of the premium wines and spirits distributor, Enotria, which was completed two weeks after year-end.
Operating profit was also impacted by the government’s tax and policy changes (increasing customs duty rates), a lack of Easter trading in the year (due to the date on which it fell), the costs of opening and closing stores, as well as the cumulative impact of increases to salary costs arising from the increase to national minimum wage and exceptional acquisitions and transformation related costs, the report stated.
Majestic Wine group executive chairman and chief executive John Colley said: “This was a transformative year for Majestic. We grew revenue year-on-year and our profits were in-line with expectations, reflecting the investments we made in our growth strategy.
“We opened six new Majestic stores, acquired the Vagabond wine bar business, and laid the foundations for three experiential new bars in prime London locations, which opened in the autumn.
“Shortly following the year-end, we also completed the acquisition of premium wines and spirits distributor Enotria, re-positioning Majestic as the UK’s largest premium end-to-end drinks specialist across retail, wholesale and hospitality.
“Our investment strategy is working, and we are incredibly excited about the future opportunities we have to grow our business further and help even more consumers discover new wines, beers and spirits they will love.”
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