WINE warehouse chain Majestic has posted its eleventh consecutive year of record profits.

Majestic, which has 115 stores, said pre-tax profits of £10.6m were 27 per cent higher than a year ago.

New customers helped to lift like-for-like sales by ten per cent to £148.3m during the year to March 29, outpacing the UK wine market, which is growing at six per cent.

Tim How, chief executive, said this trend had continued into the new financial year with same-store sales ahead by eight per cent.

Majestic, based in Watford, has been further boosted by its store opening programme, which it believes could result in the company having 175 UK outlets.

Group sales were boosted by new business, with the number of people using its mailing list increasing by 10.5 per cent during the year to 325,000. Mr How said the average price of still wine bought at Majestic was £5.40, more than a third higher than the market.

Customers spend an average of £107 per transaction, up from £104 a year ago.