23rd May 2007 07:00
Kesa Electricals plc23 May 2007 Wednesday 23 May 2007 Revenue for the three months ended 30 April 2007 Kesa Electricals plc today announces the Group's revenue for the three monthperiod to 30 April 2007, based on unaudited management accounts. Revenue growth as reported in sterling +--------------------+-----------------------+|Darty | 5.1% |+--------------------+-----------------------+|Comet | 4.9% |+--------------------+-----------------------+|BUT | 1.6% |+--------------------+-----------------------+|Other* | 20.5% |+--------------------+-----------------------+|Group Total | 6.1% |+--------------------+-----------------------+ Revenue growth in local currency +--------------+--------------+---------------+| | Total | Like-for-like |+--------------+--------------+---------------+|Darty | 7.0% | 4.3% |+--------------+--------------+---------------+|Comet | 4.9% | 2.7% |+--------------+--------------+---------------+|BUT | 3.6% | 4.8% |+--------------+--------------+---------------+|Other* | 22.6% | 10.6% |+--------------+--------------+---------------+|Group Total | 7.4% | 4.3% |+--------------+--------------+---------------+ *BCC, Vanden Borre, Datart, Darty Italy and Darty Switzerland, Darty Turkey Total Group revenue grew by 7.4 per cent in local currency, up 4.3 per cent likefor like, during a period which saw strong sales during February and March and aweaker April. At Darty, revenue increased by 7.0 per cent in local currency and 4.3 per centon a like for like basis. This performance was driven by the continued strongdemand for new technologies and growth in the sales of white goods. Sales ofDarty Box, Darty's own triple play proposition, are in line with ourexpectations. During the period Darty opened two new stores and refurbished andextended one store. Comet's revenue grew by 4.9 per cent, 2.7 per cent on a like for like basis,benefiting from the same product dynamics as Darty. During the quarter, Cometopened two new stores and refurbished / extended three stores, all of whichtrade with a mezzanine floor. At the end of the first half, Comet will haveopened nine of the 10 stores with mezzanine trading floors planned for thisyear. BUT continued to improve its performance. Total revenue grew by 3.6 per cent inlocal currency and total store revenue increased by 5.3 per cent, 4.8 per centon a like for like basis. The small to mid sized stores relay programmeprogressed and four further store relays will be completed by the end of thefirst half. Revenue at our other businesses grew by 22.6 per cent in local currency, 10.6per cent on a like for like basis. The established businesses, BCC, Vanden Borreand Datart, continued to deliver double digit overall like for like salesgrowth. Trading at our start up operations progressed well and a further fivestores will have opened in the first half of the year, two in Italy, one inSwitzerland and two in Turkey. Chief Executive Jean-Noel Labroue commented, "All our businesses delivered good revenue performance during the quarter withcontinued strong sales of flat screen televisions and further confirmation ofthe return to growth of the white goods and furniture markets. "However, against the very strong comparatives of last year, when the World Cuptriggered significant demand for flat screen televisions, we anticipate weakerlike for like sales in our second quarter. Whilst consumer confidence inContinental Europe appears positive, it remains uncertain in the UK. "We therefore remain focussed on margin management and cost control whileaccelerating the investment in our existing businesses and start up operationsto secure our future revenue and profits growth." ENDS As at 30 April 2007: +--------------+--------------------+------------------+| | Store numbers | Selling space |+--------------+--------------------+------------------+| | | (000sqm) |+--------------+--------------------+------------------+|Darty | 211 | 276.7 |+--------------+--------------------+------------------+|Comet | 249 | 259.8 |+--------------+--------------------+------------------+|BUT | 105 | 348.1 |+--------------+--------------------+------------------+|Other* | 144 | 168.2 |+--------------+--------------------+------------------+ *BCC, Vanden Borre, Datart, Darty Italy, Darty Switzerland, Darty Turkey There will be a telephone conference call for analysts at 08.00am on 23rd May2007. 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 Thursday 26th July 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 RSCGLaurent 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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