UK: Majestic profits rise, total sales fall
UK: Majestic profits rise, total sales fall
Nov 20, 2012 6
(Decanter) - Majestic Wine shook off the effects of the wet summer to post a 3.9% increase in pre-tax profits to £9.2m for the six months ending 1 October. But total sales at the wine retailer fell 1.4% to £126m, impacted by the poor weather and a planned scaling back of the company’s wholesale activities.
Wholesale revenues plummeted by £7.2m to £3.2m, with chairman David Wrigley explaining, ‘We decided to reduce our involvement in the wholesale drinks market and focus towards on-trade customers.’
Comments