June 16, 2014 / 6:32 AM / in 4 years

Majestic Wine sees profit growth from 2016

June 16 (Reuters) - British wine retailer Majestic Wine Plc reported a flat full-year profit that was in line with analyst expectations, but said it would return to profit growth from 2016.

Pretax profit rose marginally to 23.8 million pounds ($40 million) for the year ended March 31 from 23.7 million pounds from the previous year.

Revenue inched up 1.4 percent to 278.2 million pounds.

Analysts on average expected a pretax profit of 23.8 million pounds and revenue of 280.8 million pounds for the year, according to Thomson Reuters I/B/E/S.

$1 = 0.5956 British Pounds Reporting by Aastha Agnihotri and Karen Rebelo in Bangalore; Editing by Gopakumar Warrier

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