17th Jan 2008 07:00
Kesa Electricals plc17 January 2008 17 January 2008 Trading Update Kesa Electricals plc today announces a trading update for the period 1 November2007 to 8 January 2008, based on unaudited management accounts. Revenue growth as reported +-----------------------------------------------------+------------------------+|Darty | 12.6% |+-----------------------------------------------------+------------------------+|Comet | 4.0% |+-----------------------------------------------------+------------------------+|BUT | 11.6% |+-----------------------------------------------------+------------------------+|Other* | 59.2% |+-----------------------------------------------------+------------------------+|Group Total | 14.3% || | |+-----------------------------------------------------+------------------------+ Revenue growth in local currency +-------------------------+----------------+-----------------------------------+| | Total | Like-for-like |+-------------------------+----------------+-----------------------------------+|Darty | 4.7% | 2.2% |+-------------------------+----------------+-----------------------------------+|Comet | 4.0% | 0.7% |+-------------------------+----------------+-----------------------------------+|BUT | 3.8% | (1.7)%|+-------------------------+----------------+-----------------------------------+|Other* | 47.1% | 5.2% |+-------------------------+----------------+-----------------------------------+|Group Total | 9.2% | 1.7% |+-------------------------+----------------+-----------------------------------+*BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland, Darty Turkeyand Menaje Del Hogar Total Group revenue increased by 14.3 per cent, up 9.2 per cent in localcurrency and 1.7 per cent on a like for like basis. Against the highcomparatives of last year, all our businesses delivered revenue growth. Saleswere led by strong demand for new technology products, particularly flat screentelevisions and multimedia, while demand for large white goods continued to slowdown. Darty's revenue grew by 4.7 per cent in local currency and by 2.2 per cent on alike for like basis. Demand for Darty Box during December was below expectationsand we now expect to have a total of around 125,000 subscribers by the end ofJanuary 2008. Against strong comparatives and in the very challenging UK market conditions,Comet delivered a positive performance. Revenue increased by 4.0 per cent and by0.7 per cent on a like for like basis. Revenue at BUT increased by 3.8 per cent in local currency. Total store salesgrew by 6.9 per cent but declined 1.7 per cent on a like for like basis as aresult of reduced emphasis on the sale of laptops. Furniture sales remainedhealthy. All our other businesses* delivered good revenue growth, increasing overall by59.2 per cent including Menaje Del Hogar and 5.2 per cent on a like for likebasis. Web generated sales continued to show strong growth reflecting the acceleratingdemand for the 'Click and collect' service and further demonstrating the successof our multi-channel strategy. Darty's web generated sales grew by 45.2 per centand Comet's by 32.6 per cent. Chief Executive Jean-Noel Labroue commented, "As predicted, the market conditions for our important peak trading period weredifficult, particularly in the UK. However all our businesses delivered revenuegrowth with sales led by the continued high demand for flat screen televisionsand laptops while sales of large white goods remained weak. Consequently, thesmall negative mix effect on margin as reported for the third quarter continuedthroughout the period". ENDS Kesa Electricals plc's results for the 12 months ended 31 January 2008 will beannounced on 19 March 2008. The Group will host a conference call and on-linepresentation for Analysts. On 28 December 2007 Kesa Electricals announced the following: "Kesa Electricals plc confirms that it has today entered into exclusivenegotiations with a consortium composed of Colony Capital, Goldman Sachs andMerchant Equity Partners regarding the possible sale of its furniture andelectricals business, BUT; for €550 million. These negotiations include consultations as well as obtaining regulatoryapprovals and are likely to be completed in the coming months. Further details will be announced in due course." 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 ExchangeRelated Shares:
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