Wine warehouse chain Majestic Wine has reported a 14.1% increase in full-year pre-tax profit to £16.2m on sales up 11% at £191.2m.

Like-for-like sales rose 4.9% in the year to 2 April.

Sales were boosted by customers choosing to purchase more expensive wines, the retailer said. Fine wine sales rose 25% while the average bottle price increased from £5.59 to £5.75, and the average spend per transaction rose from £118 to £123.

Sales growth was particularly strong in wines from Bordeaux, Loire, Spain, New Zealand, Chile and Argentina.

“We are encouraged by our ability to attract new customers and see a continuing trend towards purchasing higher quality wines,” said Majestic Wine CEO Tim How. “We believe that prospects for the future growth of Majestic are good.”

Current trading remained strong with like-for-like sales from 3 April to 18 June up 4.9%, he added.

Topics