Kesa sees profit surge but Comet struggles

Kesa Electricals has seen its half-year profit surge after strong sales growth in Europe offset losses in the UK.

Kesa, which owns the Comet chain, made a pre-tax profit of £22.9m in the six months to 31 October, up from £6m a year earlier.

But the losses at Comet have reached £5.4m from £1.5m, which Kesa said was due to tough trading conditions and the cost of revamping a number of stores.

Revenues at Kesa rose 4.1 per cent. Profits at its French business increased 16 per cent.