Majestic Wine first-half profit rises

Mon Nov 19, 2012 2:44am EST

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Nov 19 (Reuters) - Majestic Wine Plc reported a 4 percent rise in half-year profit as increased online sales partially offset the impact of unseasonally cold and wet weather in the United Kingdom.

The wine retailer, which operates over 180 stores, said like-for-like sales in the UK were up 1.2 percent in the first six weeks of the second half of the year from Oct. 2.

Half-year pretax profit rose about to 9.2 million pounds ($14.6 million) from 8.8 million pounds a year earlier.

Online sales increased 14 percent.

Revenue fell 1.4 percent. The company said total sales were down as it reduced its wholesale activities.

Like-for-like sales in UK stores rose 0.6 percent.

Shares in the company, which also operates in France, closed at 465 pence on the London Stock Exchange on Friday.