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Wine News

Majestic profits rising

Majestic reported a 20% growth in profits for the 6 months upto 27th September.

The company's gamble to change the minimum order quantity from 12 bottles to 6 bottles appears to have paid off. Customers are now shopping more frequently and spending more per bottle. The UK average spend per bottle is £4.62 compared with a Majestic spend of £6.67

Last year, a weak sterling, saw an increased demand for lower value wines from New Zealand, Italy and wine. But Majestic now report a comeback for French wines from classic regions such as Bordeaux and Burgundy.

Also in Majestic's favour is the continuing trend for dinner parties and evenings at home putting champagne and fine wines back on the menu.

Majestic saw a 20% surge in sales of sparkling wine. There is a real fashion for Prosecco and for Lindauer New Zealand sparkling wine, which is not people drinking sparkling wine in place of champagne, because champagne's growing, it's people drinking it as an aperitif.

The firm also reported an upsurge in its' corporate business with sales up nearly 15% as companies begin to spend on entertaining clients again.