Majestic Wine (MJW:AIM) - results underwhelm!
Group profit before tax increased by £0.5m to £23.7m on total sales down 2.1% to £274.4m largely due to a managed reduction in wholesale trade sales which were down by £12.7m to £5.8m (2012: £18.5m).
Underlying sales excluding wholesale were up 2.6% to £268.6m and like for like sales in UK retail stores were up 1.0%. I acknowledge that it is a tough market so an up is something!
The total dividend for…
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