ANALYST VIEWS: HAVE MAJESTIC’S RESULTS BEATEN YOUR FORECASTS?
JOHN DICKINSON | BREWIN DOLPHIN
Profit before tax was £0.7m ahead of our estimate, which was at the top of expectations. Majestic has built a good branded business in a competitive market and benefited from the demise of a lot of its competitors. We expect to raise our current year PBT estimate by £0.5m on the back of these results.
DAVID JEARY | INVESTEC
It comfortably beat our PBT forecast for the year, with its full year dividend also ahead of our forecast. This success continues to be based on the positive reaction of customers to the reduction in the minimum quantity to 6 bottles. It represents one of the few genuine organic growth stories in the sector.
KEITH BOWMAN | HARGREAVES LANSDOWN
Earnings have marginally exceeded forecasts, with further significant progress being reported. The nation’s love of food and wine shows no sign of abating, while the group’s specialist nature sets it apart from rivals such as supermarkets. Management is confident of successfully expanding its store base.