Investors sour on Majestic Wines as it moves into the red

By
0 mins. to read
Investors sour on Majestic Wines as it moves into the red
Gary Perkin / Shutterstock.com
Master Investor Magazine

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

AIM-listed drinks retailer Majestic Wines (LON:WINE) watched its share price drop by 8.65% to 290.50p (as of 15:30 BST) after it reported a pre-tax loss of £8.5 million for the year ended 1st April. Group revenues were up by 6.3%, but major impairements relating to the company’s store portfolio pushed it into negative territory.

CEO Rowan Gormley commented: “We are at a crossroads in the Company’s history. As laid out in March, we have taken the difficult but important decision to focus on Naked and exit from Majestic. As at the date of this announcement, our intention is to sell the business and we are at an advanced stage with multiple bidders. A further update will be provided if and when negotiations conclude at which point we will seek shareholder approval to move ahead. If we are unable to complete the process over the summer, in time for the important Christmas and New Year season, we will continue to run the two businesses independently of each other and look to restart the process in 2020“.

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.