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Last Updated: Monday, 25 June 2007, 12:36 GMT 13:36 UK
More fizz for Majestic Wine sales
Majestic chief executive Tim How
Champagne is enjoying huge demand from UK drinkers
Sales of fine wine and champagne have helped lift full-year profits at Majestic Wine by 14.1%.

The UK retailer posted a pre-tax profit of 16.2m for the 12 months to April, adding that it was also enjoying a good start to its current financial year.

Majestic said British drinkers were showing an increasing taste for expensive wine, with sales of bottles above 20 rising by 25%.

The firm has 136 stores across the UK after opening eight in the past year.

Lower end

With customers having to order a minimum of 12 bottles of wine in each order, Majestic said the average spend per transaction had risen to 123 from 118 a year earlier.

It added that the average price per bottle was now 5.75, up from 5.59.

The bulk retailer also pointed to continued sales growth from online orders, which were up 35% in the year and now represent 7.2% of its total UK sales.

It will now be launching a new website later in the year, with better search and navigation options.

"We believe that prospects for the future growth of Majestic are good," said Majestic chief executive Tim How.

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