Interim Management Statement

22nd Nov 2007 07:01

Kesa Electricals plc22 November 2007 22 November 2007 Interim Management Statement Kesa Electricals plc today announces an interim management statement for thethree month period to 31 October 2007, based on unaudited management accounts. Revenue growth as reported in sterling +-----------------------------------------------------+------------------------+|Darty | 9.2% |+-----------------------------------------------------+------------------------+|Comet | 3.3% |+-----------------------------------------------------+------------------------+|BUT | 10.5% |+-----------------------------------------------------+------------------------+|Other* | 48.2% |+-----------------------------------------------------+------------------------+|Group Total | 11.3% || | |+-----------------------------------------------------+------------------------+ Revenue growth in local currency +-------------------------+----------------+-----------------------------------+| | Total | Like-for-like |+-------------------------+----------------+-----------------------------------+|Darty | 7.1% | 4.3% |+-------------------------+----------------+-----------------------------------+|Comet | 3.3% | (0.2)%|+-------------------------+----------------+-----------------------------------+|BUT | 8.4% | 2.7% |+-------------------------+----------------+-----------------------------------+|Other* | 45.4% | 9.1% |+-------------------------+----------------+-----------------------------------+|Group Total | 9.9% | 3.0% |+-------------------------+----------------+-----------------------------------+*BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland, Darty Turkeyand Menaje Del Hogar from 17/09/07 Total Group revenue grew by 11.3 per cent, 9.9 per cent in local currency and3.0 per cent on a like for like basis. Sales were led by the continued strongdemand for new technologies, particularly multimedia during the back to schoolperiod and flat screen televisions. Towards the end of the period we began tosee signs of a slow down in the white goods market. Darty's revenue increased by 7.1 per cent in local currency and by 4.3 per centon a like for like basis. Demand for DartyBox remains in line with ourexpectations of 140,000 subscribers at the end of January 2008. Against very strong comparatives, Comet's revenue grew by 3.3 per cent, down 0.2per cent on a like for like basis. At BUT, total revenue grew by 8.4 per cent in local currency and total storerevenue increased by 9.5 per cent, up 2.7 per cent on a like for like basis. Thetotal store revenue was helped by the integration of eight franchisee stores inthe first half of the year. Our other businesses continued to deliver strong growth. Revenue increased by45.4 per cent in local currency, following the inclusion of Menaje Del Hogarfrom 17 September, and 9.1 per cent on a like for like basis. Our establishedbusinesses, BCC, Vanden Borre and Datart, delivered particularly goodperformances. Chief Executive Jean-Noel Labroue commented, "This was a solid third quarter performance. Against the high comparatives oflast year, all our businesses delivered revenue growth. Sales were led by thecontinued demand for flat screen televisions and good sales of multimedia,particularly laptops, during the back to school period. Overall, the smallnegative mix effect on margin observed at the end of the first half continuedthroughout this quarter. "The consumer environment for our forthcoming peak trading period is uncertainbut we are well prepared and focussed on operational efficiencies and margin,cost and cash management." ENDS As at 31 October 2007: +--------------+-------------------------------+-------------------------------+| | Store numbers | Selling space || | | (000sqm) |+--------------+-------------------------------+-------------------------------+|Darty | 213 | 281.5 |+--------------+-------------------------------+-------------------------------+|Comet | 250 | 264.2 |+--------------+-------------------------------+-------------------------------+|BUT | 113 | 366.5 |+--------------+-------------------------------+-------------------------------+|Other* | 220 | 263.7 |+--------------+-------------------------------+-------------------------------+*BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland, Darty Turkeyand Menaje Del Hogar There will be a telephone conference call for analysts at 08.00am on 22 November2007. If you would like to listen to a recording of this call, please visit thecompany's website www.kesaelectricals.com after 10.00am. The Group will issue its next trading update on 17 January 2008. Enquiries Analysts Kesa Electricals plcSimon Ward +44 (0) 20 7269 1400 Media Kesa Electricals plcAnnabel Donaldson UK +44 (0) 20 7269 1400 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 Exchange

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