Date: Wednesday 23 Jun 2010
Kesa Electricals, the company behind TVs-to-washing machines retailer Comet, traded in line with expectations during the 12 months to 30 April, but it’s the French chain that’s behind a recovery in profits.Adjusted profit rose 17.8% to £81.9m and retail profit increased by 28% to £98.6m, thanks mainly to Darty, which ramped up retail profit by 14% to £118.4m. Comet made £11.5m, up 13.9%.
Revenue improved by 3.4% to £5.12bn, up 0.4% in constant currency, but down 1.5% on a like for like (LFL) basis. A 23% surge in web sales means the internet now accounts for over 9% of all product sales.
Rail and bus firm Stagecoach’s profits beat market expectations despite raising earnings guidance as recently as the end of April.
Underlying profit before tax in the year to 30 April were £161.3m, down from £196.4m the year before. The median estimate for profit before tax had been £149.5m. Revenue came in slightly below expectation of £2,192m at £2,164.4m, but was up from the previous year’s figure of £2,103m.
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