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Majestic Wine

August 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Given Majestic Wine's position as the UK's largest wine warehouse chain, readers could be forgiven for expecting trading to have fallen off a cliff but that hasn't happened. Instead, the company announced results for the year to 31 March in line with expectations with pretax profit increasing 4% to £16.4m and eps rising 7% to 17.5p. Equally important is that for the first ten weeks to 9 June, like-for-like sales were marginally positive at +0.8%. Net debt was £5m.Majestic's resilient performance can partly be explained by an aggressive expansion with ten new stores opening and a further three re-sited or relocated. This means that when it opens its latest store in Hereford it will have 145 in the UK, wi ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Majestic Wine

August 2008

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