21/06/2013 - MAJESTIC WINE POST RISE IN ANNUAL PROFITS

MAJESTIC WINE POST RISE IN ANNUAL PROFITS

Majestic wines, the UK’s biggest wine retailer with 193 stores, posted a 2.1% rise in annual profits, equivalent to £23.7m pre-tax. This was thanks to thriving online sales and the consumption of more British fine and sparkling wines given that sales fell 2.1% due to Majestic’s decision to withdrawal from the wholesale drinks market.

 

Online sales increased by 14.7% and now account for 11.1% of total UK retail sales with a 10% increase in customers aided by their decision to reduce the online minimum order from 12 to 6 bottles.

 

Events such as the Diamond Jubilee increased the sales of English sparkling wines with sales up 200% on the previous year.  Sales of fine wines (i.e. upwards of £20 a bottle) also increased by 9.2%.

 

The group’s recent focus has be on increasing its commercial business by supplying restaurants, hotels and gastro pubs and has recently won a contract with Lord’s cricket ground. Sales in the commercial sector rose by 13.6%.

 


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