COMET owner Kesa Electricals has posted maiden full-year profits of £202.7 million, but warned of continuing uncertainty in its core markets. The company, which demerged from B&Q owner Kingfisher in July, said revenues improved in the second half of the year and this had continued since February, despite difficult market conditions on the high street in the UK and France.
As well as 250 Comet stores, Kesa owns Darty and BUT in France as part of a network of more than 650 outlets in seven European countries.
Comet sales during the year grew 2.7 per cent to £1.44 billion. Total turnover rose 10.1 per cent to £3.77bn after on sales of digital and multimedia products at the expense of traditional ranges. Shares jumped 2.4 per cent to 269p.
From The Scotsman