Updates

Majestic Wine

January 2005

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.

Wine warehouse chain, Majestic Wine, has again produced a better than expected result, and with the shares closing in on all time highs, subscribers have more than doubled their money since our original write-up at 122p in February 2003.For the first six months to 27 September, pretax profit increased by nearly 27% to £5m, from an 8% rise in turnover to nearly £75m, while earnings were up 21% to 5.2p. Gross margin rose strongly from 19.37% to 20.46%, reflecting a smaller contribution from lower margin areas such as corporate customers and beer sales, after both had enjoyed a bumper time the previous year. Good control of working capital allowed its net cash to increase from £4.4m to £5m.Majesti ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Majestic Wine

January 2005

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