Profits jumped to £16m in the year to the end of March, up from £7.4m in the same period last year. Majestic shares jumped 4.6pc in early trading. Total sales rose 15.6pc to £233.2m, with sales of fine wines - those costing £20 a bottle or more - rising 22.7pc and representing 5pc of UK store sales, the company said in a statement.
The cost of an average bottle of still wine purchased at Majestic rose to £6.56, compared with £6.35 a year ago. Majestic Wine said its move to a six-bottle minimum purchase from 12 bottles has resulted in a 54,000 increase in the number of customers who made purchases in the past twelve months to 472,000.
Average spend fell 4pc to £129 but the company experienced a 14.6pc jumped in transactions to 1.7m. A final dividend of 7.5p a share will be paid on August 13. This takes the full-year payout up 5.12pc to 10.3p a share. Lay & Wheeler, the fine wine specialist acquire in March last year, contributed £12.4m to sales.
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