25th May 2005 07:00
Kesa Electricals plc25 May 2005 Wednesday 25 May 2005 Turnover for the three months ended 30 April 2005 Kesa Electricals plc today announces the group's turnover for the three monthperiod to 30 April 2005, based on unaudited management accounts under UK GAAP. Turnover as reported Turnover in local currency 3 months to Growth 3 months to Growth 30 April 2005 30 April 1005 Darty £340.9m 8.1% Darty €495.2m 5.3%Comet £316.7m (1.6)% Comet £316.7m (1.6)%BUT £132.5m 12.9% BUT €192.5m 9.9%Other* £76.6m 15.6% Other* €111.2m 10.7%Total £866.7m 5.6% Total 3.8% *BCC, Vanden Borre, Datart, Darty Italy At Darty, turnover grew by 5.3 per cent in local currency and 3.6 per cent on alike for like basis, driven by the continued strong sales of new technologieswhile sales of white goods remained weak during the period. Darty's logisticsprogramme is moving ahead of schedule with the warehouse in Marseille now due toclose during the second quarter. In the UK, Comet's turnover fell by 1.6 per cent with a like for like decreaseof 2.2 per cent, as the soft trading seen at the start of the year continuedthroughout the quarter and further deteriorated in April. Continued good salesof digital products, with particularly poor sales of white goods has had asignificant impact on the margin mix. As a result of the difficult marketconditions and after taking actions to manage margins and implement costsavings, we now expect Comet to make a small loss in the first half. The threestores with trading mezzanine floors planned for this year are now open. Total store turnover at BUT grew by 7.6 per cent in local currency, 4.8 per centon a like for like basis, helped by weak comparatives and the delay of theJanuary sale period into February. The action plan put in place at the end oflast year is progressing well. Before the summer, three large stores will havebeen relayed and one new store opened. Turnover at our other businesses, BCC, Vanden Borre, and Datart, grew by 10.7per cent in local currency and 3.9 per cent on a like for like basis. The newventure in Italy is on schedule with two stores opened during April and afurther three stores to be opened by the end of July. Chief Executive Jean-Noel Labroue commented, "Darty and our other electrical businesses in Continental Europe have deliveredsatisfactory sales in the first quarter driven by the continued growth of newtechnologies which necessitates additional focus on margin management and costcontrol. "Comet's performance in the first quarter reflects the difficult marketconditions in the UK. The company has already reduced its cost base and willtake further action if these conditions persist. "At BUT the action plan put in place at the end of last year is beingimplemented successfully by the new management team and our plans show improvingresults in the second half of this financial year. "Our capital expenditure and development programmes, particularly in Italy andSwitzerland, are on track as we continue to invest for growth." ENDS As at 30 April 2005: Store numbers Selling space (000sqm) Darty 204 262.6Comet 250 253.8BUT 104 330.9Other* 114 124.5 *BCC, Vanden Borre, Datart, Darty Italy Please note: We will be making an IFRS presentation on 23 June. There will be a telephone conference call for analysts at 08.15 on 25th May2005. If you would like to listen to a recording of this call, please visit thecompany's website www.kesaelectricals.com Enquiries Analysts Kesa Electricals plcSimon Ward+44 (0) 20 7269 1400 Media Kesa Electricals plcAnnabel Donaldson UK +44 (0) 20 7269 1400 Guy Lavaud France +33 (0) 1 43 18 52 00 FinsburyAbigail Irving-Bell UK +44 (0) 20 7251 3801 Euro RSCGLaurent Dondey France +33 (0) 158 47 95 17Emilie Lang +33 (0) 158 47 95 16 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DRTY.L