Updates

Majestic Wine - Earnings upgrade to 25.9p for current year

July 2011

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.

A main recommendation in February '09 at 233p, shares in the UK's largest wine specialist have climbed with barely a pause. The latest results for the year to 31 March showed pretax profit increasing by 26% to £20.1m with total sales up 10% to £257m. Earnings went up 25% to 23p. The wine market is dominated by the big supermarkets with a 75% market share versus Majestic's, which has this year inched ahead by 0.2% to 3.6%. When it comes to online sales, however, Majestic is a well oiled machine with a 12% market share, coming second only to Tesco.But Majestic has always said it doesn't compete with supermarkets and targets an altogether different audience who are better educated about wines ...

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