The group's year-end figures are likely to be in line with market expectations, the retailer said. Total sales for the year ending April 30 benefited from a 53-week trading period and increased by 4.7 per cent. Like-for-like sales increased 1.1 per cent. However the end of the year was a lot tougher for HMV, with group like-for-like sales down 2.2 per cent for the last 14 weeks of the period.
The retailer said that although DVDs and music sales were strong, its book-selling arm, Waterstones, experienced a drop in like-for-like sales of 2.8 per cent.
The retailers's overseas operations did well over the year, with stores in Canada increasing like-for-like sales by 13.5 per cent. However, although total sales in the retailer's Asia Pacific division rose by 3.2 per cent, like-for-like sales decreased by 1.7 per cent.
The retailer has completed a refinancing of its bank facilities with a five-year£260 million revolving credit facility, replacing one for£150 million.