26th Jul 2007 07:01
Kesa Electricals plc26 July 2007 26 July 2007 Interim Management Statement Kesa Electricals plc today announces an interim management statement for theperiod 1 February 2007 to 18 July 2007, based on unaudited management accounts. Revenue growth as reported in sterling +--------------------+-----------------------+|Darty | 5.5% |+--------------------+-----------------------+|Comet | 3.4% |+--------------------+-----------------------+|BUT | 2.8% |+--------------------+-----------------------+|Other* | 20.6% |+--------------------+-----------------------+|Group Total | 6.0% || | |+--------------------+-----------------------+ Revenue growth in local currency +--------------+--------------+---------------+| | Total | Like-for-like |+--------------+--------------+---------------+|Darty | 7.2% | 4.2% |+--------------+--------------+---------------+|Comet | 3.4% | 1.6% |+--------------+--------------+---------------+|BUT | 4.5% | 5.8% |+--------------+--------------+---------------+|Other* | 22.5% | 10.9% |+--------------+--------------+---------------+|Group Total | 7.1% | 4.2% |+--------------+--------------+---------------+*BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland and Darty Turkey Total Group revenue increased by 7.1 per cent in local currency, up 4.2 per centon a like for like basis. This good performance was driven by stronger thananticipated sales in the second quarter with continued demand for digitalproducts, against the high comparatives of last year, and improved sales ofwhite goods. At Darty, revenue grew by 7.2 per cent in local currency and 4.2 per cent on alike for like basis. Following the encouraging launch period, sales of DartyBoxslowed during April and May and then improved with the help of an enhanced offerincluding a single play proposition introduced in June. Against particularly strong comparatives, Comet delivered a satisfactoryperformance. Revenue grew by 3.4 per cent and 1.6 per cent on a like for likebasis. BUT continued to demonstrate the success of its turnaround programme. Totalrevenue increased by 4.5 per cent in local currency and total store revenue wasup by 5.9 per cent, 5.8 per cent like for like. Revenue at our other businesses* increased by 22.5 per cent in local currencyand 10.9 per cent on a like for like basis. Our start up operations in Italy,Switzerland and Turkey continued to progress well. Chief Executive Jean-Noel Labroue commented: "We are pleased that all our businesses have delivered good revenue performancesover the period, particularly in the second quarter against the high comparablesof last year. Sales were led by the continuing strong demand for newtechnologies and improved sales of white goods. As expected, we are seeing aneasing in the negative margin mix impact. "Excluding the effect of last year's exceptional income from property leasepremiums and the costs associated with investments for future growth, we expectour profit for the first half to improve. "For the second half, we anticipate that consumer confidence in ContinentalEurope will remain solid but uncertain in the UK. As always, our focus will beon cost control, operational efficiencies and margin management while continuingto invest in our existing businesses and new developments." *BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland, Darty Turkey ENDS There will be a telephone conference call for analysts at 8.00am on 26 July2007. If you would like to listen to a recording of this call, please visit thecompany's web site on www.kesaelectricals.com after 10.00am. Kesa Electricals plc's interim results for the six months ended 31 July 2007will be announced on 26 September 2007. Enquiries Analysts Kesa Electricals plcSimon Ward +44 (0) 20 7269 1400 Media Kesa Electricals plcAnnabel Donaldson UK +44 (0) 20 7269 1400Guy Lavaud France +33 (0) 1 43 18 52 00 FinsburyAlex Pettifer UK +44 (0) 20 7251 3801 Euro RSCGBenjamin Perret France +33 (0) 1 58 47 95 39 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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