Updates

Majestic Wine

January 2013

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.

Shares in the wine warehouse retailer continue to yo-yo within their 400-500p trading range, which has constrained them for 2011-12. In-line interims this month failed to provide the necessary catalyst to trigger a breakout – but then it didn’t include Christmas, which is the crucial trading period as it typically accounts for 60% of profits in a year.Therefore it doesn’t pay to dwell too long on the interims. Suffice to say that profits increased by 4% to £9.2m with eps up 6% to 10.4p and Majestic says trade was impacted by the heavy rain during the summer.There was a modest like-for-like sales increase of 0.6% mainly driven by price rises and this delivered an overall increase in retail of 4. ...

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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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