Majestic Wine ready to toast healthy figures

MAJESTIC wine said yesterday its profits for the year which ended in March would come in “at the upper end of analysts’ expectations”.

The range for underlying profits forecast up until today had been as low as £15.9m to as much as £18m. That is a sharp recovery from the previous year’s £12.7m.

After Christmas Majestic reported an unexpectedly strong 11.7 per cent rise in same store sales for the nine-week festive period.

Majestic chief executive Steve Lewis put the improvement down to the recent decision to cut the minimum purchase from a full 12-bottle case to just half a dozen bottles.

He said that offer had brought new customers through the door.