Kesa reports 11.3 percent increase in H1 sales |
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Published
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Thu, 20 Jul 2006 11:45
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LONDON - Kesa Electricals PLC today announced an 11.3 percent increase in first half sales thanks largely to the demand for new televisions spurred by the FIFA World Cup. Europe's third-biggest electricals retailer, which owns Comet stores in the UK and Darty in France, however maintained a cautious outlook for the rest of the year.
Chief Executive Jean-Noel Labroue said that consumers who wanted to buy flat-screen and high-definition televisions were the main cause of the sales spurt. "However, the World Cup effect will have brought forward some television sales and with the on-going uncertainties in consumer confidence, we remain cautious about the outlook for our important second half," he added in a statement. "We will therefore continue to be tightly focused on cost control and margin and cash management."
When spilt to local consideration, sales at Comet increased 8.6 percent and rose by 8.8 percent at Darty for the period between 1 February to 18 July. Kesa said white goods sales continued to remain weak, but Comet would report a small first-half profit. French furniture business BUT was the only black mark for Kesa as sales fell 2.9 percent.
Analysts at Deutsche Bank said Kesa's performance was good given that they were expecting sales at Darty to rise by 5.3 percent, Comet by 4.7 percent and BUT to drop by 3.9 percent. Kesa will announce its interim results on September 27.
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Kesa Electricals lowers profit forecast further 