Kesa like for likes flat

Profit for the twelve months to end January was £132.8m on sales of £4.31bn, up 10.5% from £3.91bn. Retail profit rose to £145.6m from £144.7m. Like-for-like sales rose by 3 per cent.Jean-Noel Labroue, Chief Executive, commented 'The Group delivered excellent revenue and profit growth against the strong

comparatives of last year. Sales were helped by the continued high demand for new technologies, particularly flat screen televisions and laptops, while sales of white goods were weaker during the second half of the period. Overall we saw an easing of the negative mix effect on margin.

'As consumer confidence declines, we are anticipating difficult trading conditions ahead. We will be more focused than ever on margin optimisation and cost control while continuing to build on our strong service proposition. We will also continue with our planned investments in the business and new markets to secure our longer term growth.'