Companies
Majestic Wine expects price rises
By Henry Tyler
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Posted 16 June 2008 @ 11:23 am GMT
Majestic Wine Plc said on Monday that it expected to increase its prices by at least 10 per cent over the next year in order to cover above-inflation rises in duty rates and currency costs.
Lactalis McLelland admits diary price fixingThe company said that the average price of one of its bottles of wine had increased from £5.75 this time last year to £5.98. Tim How, chief executive of Majestic Wine said he expected bottles costing six or seven pounds to increase by nearly one extra pound.
How said, "Over the course of the year we will see prices rising by around 10 percent unless we see the pound strengthening again, which would allow us to reduce our prices ... but I'm not forecasting that," reports Reuters.
This article is copyrighted by the International Business Times.
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