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Comet reports 14% jump in profits

BBC Published Jun 23, 2010 Reviewed Jun 30, 2026 ✓ Reviewed by citations.press editors

Comet's annual profits rose almost 14%.

14 % · profit Comet, retailer

The chain made £11.5m in the year to the end of April, compared with £10.1m a year earlier, and like-for-like sales slipped 1.5%.

11.5 million pounds · profit10.1 million pounds · profit1.5 % · like-for-like sales Kesa Electricals, parent company

Across the Kesa group, profits were £69.6m, from losses of £81.8m.

69.6 million pounds · profit81.8 million pounds · loss Kesa Electricals, parent company

Sales were up 0.4% but down 1.5% on a like-for-like basis which strips out new stores.

0.4 % · sales1.5 % · sales Kesa Electricals, parent company

Its French business, Darty France, recorded a 7.4% sales increase.

7.4 % · sales Darty France, business unit

Electrical and household appliance retailer Comet has reported a rise in annual profits of almost 14%.

The chain made £11.5m in the year to the end of April, compared with £10.1m a year earlier, its parent company Kesa Electricals said, despite like-for-like sales slipping 1.5%

Kesa credited its focus on customer service for the improved profits.

But it warned that its major markets across Europe remained "challenging".

Across the Kesa group, profits were £69.6m, from losses of £81.8m. Sales were up 0.4% but down 1.5% on a like-for-like basis which strips out new stores.

Its French business, Darty France, recorded a 7.4% sales increase.

Cost cutting and gains in market share had helped Kesa to "workmen like results", said Keith Bowman of Hargreaves Lansdown stockbrokers.

"On the downside, management outlook comments express caution, whilst intensifying competition, particularly in the UK, is casting an ever growing shadow," he added.

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