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Flat screen TV sales contribute to Kesa Electricals' results

21.03.2007 09:09 Shopping - Source: The Retail Bulletin

Flat screen TV sales contribute to Kesa Electricals' results

Preliminary results for the year ended 31st January 2007 show strong performances across the business

The company, which includes Comet, has announced that group revenue increased by 9.8% to £4,500 million during the period, up 7.8% on a like for like basis. Group retail profit increased by 9.7% to £180.9 million with profit before tax up by 15.4% to £165.4 million

Jean-Noel Labroue, Chief Executive, commented,” I am very pleased that all our businesses delivered strong revenue performances in positive market conditions, helped by the new technology product cycle, particularly flat screen televisions, and the market for white goods returningto small growth. All our electrical businesses gained market share.

“Product and margin mix management and productivity gains helped us make good progress in retail profit.For 2007 we expect the same sales trends to continue, but not at the same rate as last year. We will continue to focus on cost control and productivity to offset the negative mix effect on margin.

“The current success of all our businesses gives us the confidence to accelerate our investments with particular emphasis on Darty's new services, Comet's trading mezzanine floor development programme and developing our three new businesses in Italy, Switzerland and Turkey. Whilst this will impact this year's earnings growth and cash flow, it will secure the future success of the Group.”

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