Kesa Electricals says profit in line

LONDON (Reuters) - Kesa Electricals <KESA.L>, Europe's No. 3 electrical goods retailer, on Thursday posted a further fall in underlying sales for its fourth quarter but said full-year profit was in line with expectations.

The group, which owns French market leader Darty, Britain's second-biggest electrical goods retailer Comet and trades in another 10 countries, said sales at stores open at least one year fell 7.5 percent for the January 9 to April 30 period.

This compares with a fall of 5.5 percent for the 10 weeks to January 8.

Darty's like-for-like sales fell 5.8 percent, with gross margins stable.

Comet's like-for-like sales fell 7.3 percent, with its rate of gross margin decline easing during the period.

Shares in Kesa have lost half their value over the last year but are up by the same amount over the last six months, outperforming the DJ Stoxx European retail index <.SXRP.L> by 37 percent.

The stock closed Wednesday at 116 pence, valuing the business at 614 million pounds. (Reporting by James Davey; editing by Rhys Jones)

Article Published: 14/05/2009