Updates

Majestic Wine

July 2004

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.

Another strong year for Majestic. This has meant that its earnings have grown an incredible 332% since its debut on AIM in 1997 and the shares saluted this by closing in on their all-time high, prompting the board to propose a 4-for-1 share split in order to improve liquidity.In the latest 12 months ending 31 March Majestic posted a 27% increase in pretax profit to £10.6m, before an exceptional property gain of £0.4m. Turnover was up 18% to £148m and diluted earnings rose 22% to a record 45.0p. It was pleasing to see a net cash inflow of £4.1m, which took year end net cash to £4.4m. Majestic opened ten stores in the period taking the total to 115 – stil ...

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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

July 2004

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