British wine warehouse chain Majestic Wine posted a 4.2 percent rise in first half profit as sales benefited from soaring demand for Prosecco as well as new store openings.
The company said sales of the Italian sparkling wine jumped 39 percent in the six months to Sept. 30 as total sales increased 3.3 percent to 130.2 million pounds ($210 million).
Pretax profit over the period rose 4.2 percent to 9.5 million pounds.
Majestic Wine opened three stores in the first half and has opened three since the end of September, bringing the total to 198.
Active customers rose 6.2 percent to 631,000, while online sales rose 8.3 percent and now represent 10.3 percent of UK retail sales, benefiting from a new website.
"These results show we continue to make steady progress towards our strategic growth objectives and we are very well prepared for the peak Christmas trading period."
Majestic Wine's growth strategy is to expand its store estate, increase revenue from business customers, grow internet transactions and develop sales of fine wine.
Shares in the firm, up 17 percent so far this year, closed Friday at 547.5 pence, valuing the business at 357 million pounds.
An interim dividend of 4.2 pence, up 5 percent, is being paid.
