Majestic Wines Full-Year Pretax Profit Drops

Majestic Wines Plc MJWNF reported a drop in its pretax profit for the full year. Majestic Wines posted a pretax profit of GBP18.4 million, versus a year-ago profit of GBP23.8 million ($28.6 million). Its revenue surged 2.3 percent to GBP284.5 million, while like-for-like sales climbed 1.9 percent. Its gross margin declined to 22.7 percent from 23.0 percent, while distribution costs rose 5.7 percent. Administrative costs surged 31.4 percent. The average spend per transaction came in unchanged at GBP129. Online sales jumped 12.4 percent to GBP31.1 million. The number of customers rose 5.4 percent to 678,000 in the full year.