Kesa H1 profit ahead of forecasts
Group revenue increased by 7.6 per cent to £2.347bn (2008: £2.18bn), an increase of 0.1 per cent in constant currency terms and a decrease of 2.5 per cent on a like for like basis.Group retail profit grew to £24.3m from £13m last year, an increase of 50.6 per cent in constant currency.Adjusted Group profit before tax was £14.9m (2008: £10.9m). Profit before tax was £6m (2008: loss of £103.8m).
Thierry Falque-Pierrotin, Chief Executive, commented:"Trading conditions across all our markets continued to be challenging with widely varying geographic market conditions. However, the Group has delivered a solid performance over the first half of the year, ahead of our major markets."The outlook for the second half of the year remains uncertain but our businesses are prepared and well positioned for the more significant peak trading period."
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