Updates

Majestic Wine - Acceleration in store opening programme

December 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Latest interims to 30 September are at the top end of expectations with like-for-like sales growth of 7.6% and overall profits up 20% to £7.3m. Eps were 8.3p. Most of the strong performance was down to the change to a minimum order of six bottles and the demise of various off licence operators as a result of the recession. This culminated in a massive uplift in new customers with 496,000 active ones on the database, up 14% year-on-year. The lowered minimum bottle level drove a 19% increase in transactions albeit unsurprisingly a 7% decline in average sale to £122. The core UK Majestic chain grew sales by £9.4m to £106.5m underpinned by the 7.6% like-for-like growth and two new stores also ...

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