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"One year on from the acquisition of Naked Wines, there are two stand-out developments: (1) Majestic has returned to growth for the first time in 4 years, and (2) Naked Wines is self-funding its growth from internally generated cash. The reinstatement of the dividend is a positive and a clear signal of intent to deliver a balanced and sustainable TSR model." Liberum note out this morning on research tree
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