Kesa Electricals says profit meets expectations

05/14/2009 | Reuters

Kesa Electricals, which owns retailers Darty and Comet, said sales dropped more quickly in the first few months of 2009 than it did at the end of 2008, but annual profit met expectations. "A strong focus on managing gross margin and costs helped us deliver a cash flow and retail profit performance for the full year [to April 30] in line with expectations," said Thierry Falque-Pierrotin, CEO at Kesa, which is the third-largest electrical-goods retailer in Europe.

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