Majestic's profits up again

Majestic has reported a continuing rise in sales, making a pre-tax profit of £16.2 million for the year ending April 2007.

The figure is a 14.1 per cent increase on the previous year's profits and means the company now enters its fourteenth year of consecutive growth.

Total sales went up 11 per cent to £191.2 million with like for like UK sales up 4.9 per cent.

Chief executive Tim How said:"We are encouraged by our ability to attract new customers and see a continuing trend towards purchasing higher quality wines. We believe that prospects for the future growth of Majestic are good."

The average bottle price at the wine warehouse chain is now £5.75. Customers are also spending £123 more per transaction, £5 more than last year.

Majestic web sales also increased by 35 per cent on the previous year and now represent 7.2 per cent of the company's retail sales.