Majestic Wine toasts 20 per cent rise in profits as buyers return
Majestic Wine toasts 20 per cent rise in profits as buyers return
Nov 15, 2010 6
Majestic Wine raised a glass to a 20 per cent rise in half-year profits yesterday, saying its decision last year to reduce the minimum purchase in its stores to six bottles had kept sales fizzing.
The wine warehouse's increase in earnings, which came in at £7.3m, was also driven by growing sales to businesses, a strong performance from its operation in France and surging demand for sparkling wines, fine wines and New Zealand brands.
Steve Lewis, the chief executive of Majestic, said the decision to halve its minimum purchase from 12 bottles to six in September 2009 was still attracting new customers and drawing existing ones into its shops more often.
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