Majestic Wine stocks slip as customer numbers climb

<p>Majestic Wine’s shares are lower as the company announces its customer number and profits are higher.</p>

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.

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