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Majestic Wine back in the black after year of transformation

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Shares in Majestic Wine fell this morning as the retailer's boss warned that the UK market could be even tougher next year.

The group reported a profit after booking a loss this time last year, as well as growth in sales. Shares in the company were up 1.4 per cent.

The figures

Group sales were up 2.3 per cent, mostly driven by 11.3 per cent growth in the Naked Wines division. Meanwhile the Majestic Retail stores grew underlying sales by 1.9 per cent.

Profit before tax came in at £8.3m, putting the business back in the black after a £1.5m loss in 2017.

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