Majestic Wine, the UK national wine merchant, reports that its half-year adjusted pre-tax profit rose to £6.8m.
The groups, Naked Wines business, which funds independent winemakers to make exclusive wines at preferential prices, posted adjusted earnings before interest and tax of £4.72m, compared with a £2.78m loss just a year ago.
Total adjusted pre-tax profit rose to £6.8m for the half year to beginning of October, from a mere £51,000 a year ago. Revenue rose 5.7% to £217.4m.
Majestic, which has 210 wine warehouses across the UK as well as two branches in France, said it expected full-year results to be in line with current expectations and added that it would look to boost sales in the medium term through higher investment in new customer acquisition.