Kesa group like-for-likes dropped 1.2% from January 9 to April 30 as poor weather hit sales, but the retailer said it expects full year adjusted pre-tax profits to be “significantly ahead of last year”.
Group revenue edged up 1.1%, while at Comet like-for-likes dropped 4% as total sales fell 3.4%.
In the six months to April 30 group sales grew 1.2%. At Comet like-for-likes dropped 3.9% while total sales dropped 3.4%.
In the year to April 30, group sales grew 4.2% as like-for-likes slipped 1.5%. At Comet like-for-likes slid 1.4%, while revenue dropped 0.4%
Chief Executive Thierry Falque-Pierrotin said: “We are satisfied that overall the Group traded in line with or ahead of its markets during this seasonally quiet period and we are encouraged by the improvement we have seen in gross margin.
“We expect adjusted profit before tax for the full year to be significantly ahead of last year and in line with the average of current market expectations of £76m.”