| CATEGORY: SMALL CAPS NEWS SECTOR: GENERAL RETAILERS |
Majestic Wine lifts H1 profit 9% |
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Mon 16 Nov 2009
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LONDON (SHARECAST) - Aim-listed wine retailer Majestic Wine served up a 9% increase in half year pre-tax profit while like for like sales rose 5.4%.
Pre-tax profit rose to £6.1m for the 26 weeks ended 28 September 2009 from £5.6m. Total sales were up £12.6m to £106.7m after including £6m from Lay & Wheeler, the fine wine specialist, which it bought in March 2009.
Like for like sales in UK retail stores up 5.4% while online sales increased 24.6% on last year and now represents 9.2% of UK retail sales.
Majestic said it had benefited from its new six-bottle purchase model instead of a minimum purchase of twelve bottles.
Commenting on trading, the group said, "Whilst we are pleased with the trading performance so far this year we remain cautious about the economic climate. We are well positioned for the very important Christmas trading period."
Majestic have maintained the interim dividend at 2.8p per share.
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