Jean-Noel Labroue said that: "The economic climate across Europe has created very tough trading conditions" for all Kesa's businesses, especially in the UK and Spain. However, he goes on to say, "Darty in France, and our established businesses in Holland, Belgium and the Czech Republic, have demonstrated good resilience, and our start-up operations in Italy and Turkey continued to make further progress".
In the UK, Comet's revenues fell by 7.9 per cent compared with the same period last year, while its retail profits fell from a £10.6mn profit to a loss of £8.1mn.
In Spain, last year's acquisition of Menaje Del Hogar was once described as a "a platform to build a differentiated business" in the Iberian peninsula. But, Kesa's latest statement says that: "The current market conditions are extremely weak, much worse than anticipated, and we do not forsee any improvement in the short term".
Kesa will publish its next trading statement on 20th January 2009.
No comments:
Post a Comment