Comet's parent company reports growth while UK retailer stagnates on falling margins

Mixed results for Kesa

Third quarters sales at the parent company of UK retailer Comet, Kesa Electricals, rose 11.3 per cent, driven largely by demand for flat-screen televisions.

Comet’s sales rose by 3.3. per cent, however, fell 0.2 per cent on a like-for-like basis. Speaking about the results, Kesa’s chief executive, Jean-Noel Labroue said: " This was a solid third-quarter performance."

"Against the high comparatives of last year, all our businesses delivered revenue growth. The consumer environment for our forthcoming peak trading period is uncertain, but we are well prepared and focused," he added.

However, the group warned that profit margins would continue to be eroded due to a combination of economic issues lowering demand for white goods, and continued strong demand less profitable products, such as laptops.

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