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Majestic Wine FY sales rise on strong U.S. performance
June 15, 2017 / 6:17 AM / 5 months ago

Majestic Wine FY sales rise on strong U.S. performance

June 15 (Reuters) - Britain’s Majestic Wine Plc said on Thursday its underlying full-year revenue rose 11.4 percent as sales expanded by more than a quarter at its U.S.-focused Naked Wine unit, despite a failed e-mail campaign earlier this year.

Full-year sales at Naked Wine, which was acquired in April 2015, surged 26.3 percent to 142.2 million pounds ($181.25 million), while the group’s full-year sales came in at 461.1 million pounds.

However, full-year adjusted pretax profit fell to 12.9 million pounds from 15 million pounds a year ago.

Separately, the company said chairman Phil Wrigley will retire at the annual general meeting in August. Greg Hodder, a non-executive director since Oct. 2015, will be appointed as chairman-designate with immediate effect, Majestic Wine said.

$1 = 0.7846 pounds Reporting by Rahul B in Bengaluru; Editing by Sherry Jacob-Phillips

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