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Premium wine and web sales boost Majestic profits

UK wine retailer Majestic has posted an 11% increase in profits on last year with premium wine sales and web business driving the boom.

The high street merchant said it made £191m in the year up to 2 April 2007, compared to £172m in the previous year.

Chief Executive Tim How said that sales of wine over £20 increased 25% in the last year with web sales rising by 35% to account for over 7% of turnover.

Majestic will launch a new website later this year.

How also said that more and more shoppers were moving away from Chardonnay and going to Sauvignon Blanc, driving sales of New Zealand wine to the detriment of Australia.

The one downturn in sales occurred at the group’s continental bases in Calais, Coquelles and Cherbourg where like-for-like sales fell by 5% with the diminishing popularity of booze cruises.

Written by Oliver Styles

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