 Soaring summer temperatures fuel stronger profits at Majestic |
Wine retailer Majestic Wine has toasted a 42% leap in interim profits as the summer heatwave boosted sales of champagne, rose wine and beer. Pre-exceptional profits rose to �3.96m at the half-way stage, from �2.79m in the previous year.
Wines from the Loire, southern France, South Africa, Chile and New Zealand were the top sellers.
Sales grew nearly 22% to �69m, while the interim payout matured 50% to 4.5p, the company said.
Nine new UK stores were opened in the first-half, including four in November, taking the total number of UK stores to 113.
Corks pop online
Watford-based Majestic said it had made its entire range of fine wines available online, in an effort to cater to the tastes of its more affluent customers, particularly in London.
"Fine wine forms less than 1% of sales at the moment, but it's an area we believe has real potential," said chief executive Tim How.
Meanwhile, Majestic said its attempts to tickle French taste buds had been "excellent".
The company reported half-year sales growth of nearly 22% at its three stores in France at Calais, Coquelles and Cherbourg.
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