Updates

Majestic Wine - Upgrades follow results

July 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.

We featured the shares back in February at 233p, with our view that the demise of First Quench (the owner of Wine Rack), plus Majestic's reduction in its minimum order to six bottles of wine was electrifying the business. That has proved remarkably prescient - with the latest results coming in at the top end of expectations. Pretax profit was £16m showing underlying growth was 26% after adjusting for last year's £5.3m reduction in the carrying value of the French business. Earnings were 18.3p - exceeding the forecasts for one year out! Net debt fell from £8.3m to £3.9m despite opening six new stores to leave 152 stores at the period end. This helped total sales grow 11.4% to £233m in the ...

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Eros

KSK Power Ventur

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Majestic Wine - Earnings upgrade to 25.9p for current year (July 2011)

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