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Majestic Wine Share Discussion Threads
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|mmm delicious WINE|
19 November 2016 • 4:09pm
Questor says: Hold
Majestic Wines, once a common sight on the British high street, has struggled in recent years against the rise of online rivals and rock-bottom supermarket prices.
After a profit warning in September and years of decline, boss Rowan Gormley, who described last week’s half-year results as the “tipping point” for the company, needs to convince investors that his turnaround plan is working.
The fact that Majestic has reinstated its dividend at 1.5p should be a seen as a good first step.|
|Bought in after fall following the September update which I considered way OTT. It continued to fall after that so been showing a small loss but today's results vindicate my view and I'm back well into profit. Should continue to strengthen from here.|
|heading up nicely again|
|CAKE and WINE and youll feel fine|
|fancy some delicious CAKE to go with it|
|ill be suppin some wine when this hits 350p even if it might only be 11 oclock :)|
|Majestic Wine shares flow higher as turnaround plan bites
08:32 17 Nov 2016
The firm has been under pressure to kickstart growth and in September issued a profit warning
Majestic Wine shares flow higher as turnaround plan bites
The firm reinstated an interim dividend of 1.5p a share, underlining future confidence
Shares in wine merchant Majestic plc (LON:MJW) flowed a little higher as it told investors its turnaround plan was working and it unveiled a 13% increase in sales in the first half.
The firm has been under pressure to kickstart growth and in September issued a profit warning, forecasting pre-tax earnings before interest for the full year to April 2017 would be lower than market expectations.
In the latest six months to September 26, revenue was £205mln (2015: £181.6mln). The loss for the period was £4.4mln, compared to a profit of £4.3mln in the same period last year.
The loss recognised £4.5mln of adjusted items, largely relating to the group's acquisition of online retailer Naked Wines in 2015.
The firm reinstated an interim dividend of 1.5p a share, underlining future confidence.
Chief executive Rowan Gormley said: "Now that we have built a solid platform for future growth, future cost growth will be much lower.
"We are reiterating our commitment to hitting our goal of delivering £500m sales by 2019, and we believe that will translate into healthy profit growth now that the step change in investment is complete."
The period saw a 26.7% increase in sales at Naked and a 5.7% rise like-for-like in the retail division. Majestic commercial was up 1.2%
Its Lay & Wheeler fine wine group was firmly back in growth, with a 27.8% increase in sales, due largely to the huge positive impact of a new management team.
House broker Liberum rates shares a 'buy' and targets 380p.
"The dynamic model being created is a far cry from the old Majestic," it says.
The transition towards a 'return on investment' focus via opex driven growth was always going to create a short, albeit sharp decline in these first half results, it notes.
"There are signs of positive momentum which, should they continue, drive outperformance."
Shares added 1.08% to 305p.|
|bowl to 450p i tell ya|
|buy sit back, enjoy WINE|
|buy sit back, enjoy WINE|
This is goig to go up to 400p ?|
|chart bowling up|
|But internationally spread Lidl and Aldi can subsidise this local(UK) problem I suppose even going loss leader I imagine.|
|Naked Wines to hike prices by 5%
Naked Wines plans to raise prices by around 5% due to fall in value of the pound.
Unlike Tesco, Naked will not be going into battle with its suppliers.
"We’re not the type of business to start a war with suppliers over price. Nor are we ever going to compromise on quality to hit our margins," it said in an email to its customers.
The prices rises will hit in November, so it is urging customers to stock up before then.
From the BBC business live|
|I'm in - it seems too good an oportunity, target of 400 ?|
|share price 300 p , maybe good time to buy?|
|So why go with there's if the others have tweaked for update?|
|Can't see any published Canaccord price target except 310p last December, then "sell" stance in June according to Bloomberg and similar reports.
|Large sell worked through?|
|good to see some buying|