November 22, 2018 / 8:03 AM / 6 months ago

UK's Majestic Wine stocks up ahead of Brexit, outlook muted

Nov 22 (Reuters) - Majestic Wine Plc will import an extra 5 to 8 million pounds of stock to ensure it is covered against any problems with deliveries following Britain’s exit from the European Union, the company said on Thursday.

Majestic, one of Britain’s best-known wine merchants, also said it now expected adjusted operating earnings across its Retail and Majestic Commercial arm to be flat at best compared to earlier expectations of some growth.

It also said that profits at its Naked Wine business would be hit by a speed up in investment. ($1 = 0.7826 pounds) (Reporting by Karina Dsouza in Bengaluru; editing by Patrick Graham)

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