Newspaper article The Journal (Newcastle, England)

Majestic's Success Is Flowing On

Newspaper article The Journal (Newcastle, England)

Majestic's Success Is Flowing On

Article excerpt

Byline: By Graeme Evans

Wine warehouse chain Majestic yesterday delivered its 10th consecutive year of record profits after seeing annual sales surge 20pc to pounds 125.7m.

Majestic, which currently has 106 outlets, posted pre-tax profits before exceptional items of pounds 8.3m, a rise of 38pc on a year earlier.

And the growth trend appeared set to continue after Majestic reported an 8.1pc lift in like-for-like sales over the first 10 weeks of the new financial year.

That was described by the company as a "very satisfactory" performance, given the strong comparatives of the last two years, including a 9.7pc improvement in the 12 months to March 31.

The Hertfordshire-based business has been further boosted by its store opening programme, which it now believes could result in 175 UK outlets, rather than the 150 first envisaged. Two more outlets are planned for London, along with further stores at Kendal, Warrington and Roehampton. …

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