CAN KESA ELECTRICALS RECOVER FROM ITS NOSEDIVE INTO THE RED?
DAVID JEARY INVESTEC
It is clear that trading conditions remain challenging. The company has already announced cost cutting measures for Comet and its Spanish division, and cost reduction is to remain a key focus. Much will depend on the continued resilience of the key Darty division, which has performed solidly.”
MATTHEW MCEACHRAN SINGER CAPITAL
These results look slightly below expectations, driven mainly by the higher-than-forecast losses in European start-ups. The dividend is lower than hoped, and management has indicated that the progressive policy will only recommence when the economic environment improves. But the group remains unencumbered by debt.
KEITH BOWMAN HARGREAVES LANSDOWN
Despite moving into loss territory, the results are broadly in line with expectations. On the downside, trading remains challenging given hard-pressed consumers, arch rival DSG International is continuing the roll-out of its revamped stores and competition is set to intensify.”