24th Nov 2005 07:01
Kesa Electricals plc24 November 2005 24 November 2005 Turnover for the three months ended 31 October 2005 Kesa Electricals plc today announces the Group's turnover for the three monthperiod to 31 October 2005, based on unaudited management accounts. Turnover as reported Turnover in local currency 3 months to Growth 3 months to Growth 31 October 2005 31 October 2005Darty £374.1m 2.0% Darty €549.1m 1.9%Comet £358.2m (0.8)% Comet £358.2m (0.8)%BUT £146.5m 1.8% BUT €215.0m 1.7%Other* £94.3m 21.1% Other* €138.5m 19.3%Total £973.1m 2.5% Total 2.3% *BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland Total Group sales grew by 2.5 per cent, down 1.0 per cent on a like for likebasis, helped by an improving performance at Comet and accelerated growth at ourOther Businesses*. As anticipated, market conditions continued to be verychallenging throughout the period. Darty's sales grew by 1.9 per cent in local currency, up 0.2 per cent on a likefor like basis. Strong sales growth of flat screen televisions and digital audiocontinued to unfavourably affect the product margin mix. Sales volumes aregrowing faster than turnover as a result of on-going price deflation and,despite efficiency gains achieved, are adversely impacting cost ratios. Thesefactors continue to put pressure on Darty's retail profitability. In the UK, Comet's turnover decreased by 0.8 per cent, down 3.1 per cent on alike for like basis, representing an improved performance over the first halfwith strong sales growth in new technologies. In line with market trends, salesof white goods declined. BUT's sales deteriorated throughout the period following an encouraging firsthalf. This was as a direct result of tough market conditions, particularly infurniture, and a more aggressive competitive environment. Total store sales fellby 0.6 per cent in local currency, down 4.1 per cent on a like for like basis.In this environment, BUT will stay focussed on margin management and costcontrol. Our Other Businesses* showed much improved sales, up 19.3 per cent in localcurrency and up 7.1 per cent on a like for like basis, helped by solid sales inBelgium and the Czech Republic and an encouraging performance in Holland. Chief Executive Jean-Noel Labroue commented, "In very difficult market conditions, overall the Group delivered satisfactorysales during the period. We estimate that Darty and Comet slightly improvedtheir total market shares and I am pleased that our Other Businesses* delivereda particularly strong performance. "Given the economic climate and market uncertainties, it is too early to predictcustomer spending patterns during the key December / January trading period.However, we can predict that any sales growth will be in flat screen televisionsand new technologies rather than traditional white, brown and furniture goods. "Against this background, we will stay committed to margin, cost and cashmanagement while continuing to improve our specialist customer proposition." ENDS *BCC, Vanden Borre, Datart, Darty Italy and Darty Switzerland As at 31 October 2005: Store numbers Selling space (000sqm)Darty 203 262.7Comet 249 256.5BUT 105 339.3Other* 121 137.7 *BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland There will be a telephone conference call for analysts at 08.15am on 24 November2005. If you would like to listen to a recording of this call, please visit thecompany's website www.kesaelectricals.com after 09.15am. The Group will issue its next trading update on Thursday 19 January 2006. Enquiries Analysts Kesa Electricals plcSimon Ward +44 (0) 20 7269 1400 MediaKesa Electricals plc Annabel Donaldson UK +44 (0) 20 7269 1400Guy Lavaud France +33 (0) 1 43 18 52 00 FinsburyAbigail Irving-Bell UK +44 (0) 20 7251 3801 Euro RSCG Laurent Dondey France +33 (0) 1 58 47 95 17Emilie Lang +33 (0) 1 58 47 95 16 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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