Majestic Wine's first half profit slips on high investment costs
(Reuters) - British wine warehouse chain Majestic Wine Plc posted a 10.5 percent fall in first-half profit, hurt by higher investment costs and weaker demand for the Bordeaux 2013 vintage.
However, total sales jumped 2.8 percent to 133.8 million pounds as the company attracted some new customers and people paid more for its offerings.
Pretax profit fell to 8.5 million pounds in the 26 weeks ended Sept. 29 from 9.5 million pounds a year earlier.
(Reporting by Aastha Agnihotri in Bangalore; Editing by Sunil Nair)
