Kesa Electricals Share Discussion Threads

[maywillow] 27/11/2003 09:38

Extract from the advfn news bulletin




In the midcaps, third quarter trading news is due from Kesa Electricals, the British and French- based electronics retailer which was demerged from Kingfisher in July.
Morgan Stanley forecasts Kesa to show an 8 pct increase in overall volumes to 895 mln stg, but sees like-for-like sales contracting by 2.7 pct over the quarter due to tough trading conditions over the quarter. But the sales trend is likely to be volatile given the sunny weather, analysts noted.

[maywillow] 27/11/2003 07:47

LONDON (AFX) - Kesa Electricals PLC said it expects to deliver
'satisfactory' full year results as it reported a 12.1 pct rise in turnover for
the third quarter to Nov 1.
"Following an encouraging start, the overall trends in the quarter have
borne out our previous caution for our second half," said chief executive
Jean-Noel Labroue. "In this context, our operating plans remain on track and,
through our continued programme of margin and cost management, we expect that we
will deliver satisfactory results at the year end."
In the 13 weeks to Nov 1, the company saw turnover rise 12.1 pct to 927.3
mln stg from 827.3 mln a year earlier.
Labroue said the company is focusing on generating cash but also investing
in expansion and is on track to open a further two Darty and three Comet stores
in the last quarter of the financial year.
[e-mail]
cw

[maywillow] 27/11/2003 07:21

RNS Number:5530S
Kesa Electricals plc
27 November 2003


Thursday 27 November, 2003



Trading Update for the 13 weeks ended 1 November 2003

Kesa Electricals plc today announces a trading update for the 13 week period to
1 November 2003, based on unaudited management accounts.


Turnover as reported

13 weeks to 13 weeks to Growth
1 November 2003 2 November 2002

Darty #371.5m #314.5m 18.1%
Comet #343.1m #332.7m 3.1%
BUT #140.7m #119.5m 17.7%
Other #72.0m #60.6m 18.8%
Total #927.3m #827.3m 12.1%

#/Euro exchange rates of 1.42 (2003/04) and 1.58 (2002/03)


Turnover in local currency

13 weeks to 13 weeks to Growth
1 November 2003 2 November 2002

Darty Euro526.2m Euro498.0m 5.7%
Comet #343.1m #332.7m 3.1%
BUT Euro199.3m Euro189.2m 5.3%
Other Euro102.0m Euro96.0m 6.3%


At Darty, LFL sales grew 4.7% during the quarter, benefiting from strong sales
of cooling products in the August heatwave and from significant growth in
multimedia and digital products in the 'back to school' period running into
September. The latter part of the quarter was more subdued and we do not see, as
yet, signs of a sustained recovery in French consumer spending. Darty opened
four new stores in the period, in Passy, Montmartre, Rouen and Chambery,
relocated one in Grenoble and completed the refurbishment of the Rosny store.

BUT continued to experience a difficult furniture market, with the increase of
0.7% in LFL sales being due to the stronger performance of electricals. BUT
opened two new stores in the quarter, in Nanterre and in Nantes.

In the UK, Comet also experienced good MDA and strong multimedia and digital
product sales early in the quarter being followed by a weaker performance in
October. Although product LFL sales were up 3.7%, total growth for the period
was held back to 3.1% reflecting the reduction in turnover from extended
warranties that has been noted in previous trading reports. Comet opened one
relocated store in the period in Lincoln and completed the refurbishments of
Orpington and Slough.

LFL sales in the Other Businesses, Vanden Borre, BCC and Datart, grew by 0.2%
showing some signs of improvement, particularly in the Benelux region. During
the quarter, BCC opened two new stores and Vanden Borre one, bringing the total
number of stores in Holland and Belgium to 35 and 51 respectively.

Commenting on the Group's performance, Chief Executive Jean-Noel Labroue said:

"Following an encouraging start, the overall trends in the quarter have borne
out our previous caution for our second half. In this context, our operating
plans remain on track and, through our continued programme of margin and cost
management, we expect that we will deliver satisfactory results at the year end.

"While focussing on cash generation, we are continuing to invest in accordance
with our expansion plans: we have opened 10 stores over the last three months
and we are on target to open a further two Darty and three Comet stores in our
last quarter."

ENDS



Enquiries

Analysts

Kesa Electricals plc
Simon Ward [phone]

Media

Kesa Electricals plc
Annabel Donaldson UK [phone]
Guy Lavaud France [phone]

Finsbury
Alice Macandrew UK [phone]

Euro RSCG
Laurent Dondey France [phone]


There will be a telephone conference call for analysts at 10.00 am today.
If you would like to listen to a recording of this call, please visit the
company's website www.kesaelectricals.com



This information is provided by RNS
The company news service from the London Stock Exchange

END
TSTDGMZMRVFGFZM

[ariane] 26/11/2003 19:29

260.50p??????????????

[ariane] 25/11/2003 21:05

Must admit, was taken by surprise with move to 254p.

[maywillow] 24/11/2003 16:40

LONDON, November 24 (New Ratings) – Analyst Geoff Ruddell of Deutsche Bank upgrades Dixons (DXNS.L) from "hold" to "buy," while raising his estimates for the company. The target price is set to 140p.

[maywillow] 24/11/2003 09:06

Calendar of Events

2003

Demerger effective subject to EGM 4th July
Interim results for H1 2003 / 04 announced 17th September
Q3 sales update Late November
Interim dividend paid December

2004

Year end 31 January
Prelim results for 2003 / 04 announced Mid March
AGM and 1Q sales update Late May
Final dividend paid July

[maywillow] 24/11/2003 08:48

NEW YORK, August 01 (New Ratings) - Analysts at JP Morgan Securities initiate coverage of Kesa (KE4) with an “overweight221; rating. The fair value is set to 240p.