Majestic Wine shares are down on the London Stock Exchange this morning (November 19th) after the vintner reported that its customer numbers and profits have advanced in the past 12 months.
The recession is believed to have encouraged more people to enjoy food and drink in their own homes rather than at bars and restaurants and this may well be the case as consumers flock to the outlet to purchase good quality reds, whites and roses.
Majestic Wine said there was a "substantial" rise in customer numbers who made a purchase at one of its stores in the past 12 months, with the average price paid per bottle climbing from £7.13 to £7.46.
As such, half-year profits for the six months to the beginning of October were 3.9 per cent higher than the same time last year at £9.2 million.
At 09:45 GMT, Majestic Wine's share value was down by 0.3 per cent to 463.25p.
Find out more about CFD trading strategies and the FTSE 100 at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.