Majestic sees profits dip as expansion continues

Majestic Wine Group reported a sharp dip in profits for FY25, but revenues edged up as store openings and bold acquisitions kept the retailer buzzing.

Pre-tax profits fell from £14.3m to £7.7m in the year to 31 March 2025, with Majestic blaming a tricky policy backdrop, higher duties and extra IT spending. Consumer confidence wobbled after the July election and October budget, while rising mortgage rates squeezed disposable incomes.

Costs also jumped following the purchases of Vagabond and premium distributor Enotria, trimming operating profit to £16m. Despite the squeeze, revenue nudged up to £386m and the Fortress-owned group has quadrupled operating profit since 2020.

Boss John Colley called the year transformative, citing six new shops, three London wine bars and a bigger wholesale arm, with Enotria now on board. He said “Our investment strategy is working, and we are incredibly excited about the future opportunities we have to grow our business further and help even more consumers discover new wines, beers and spirits they will love.