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Digital SLR sales boost Jessops

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Written by Nature Sniper
Thursday, 30 November 2006
LONDON (SHARECAST) - Photographic retailer Jessops today reported a 60% hike in sales of digital SLR cameras which helped grow full year sales and profits, while it added that the new financial year has started well. Profit before tax for the year ended 30 September was £17m versus a proforma £14.8m a year ago on sales up 6.9% to £350m. Operating profit grew 12.3% to £20m, while like for like sales jumped 2.9%. Sales of digital compact cameras fell 1.4% versus a market decline of 2.5%, but digital printing sales contributed to the upbeat figures, rising 36% by value, hitting a new high of 3m prints per week. Meanwhile, total like for like sales in the eight weeks to 26 November were up 4.2%, with a 51.4% increase in internet sales offsetting a 0.3% decline in store like for like sales. “We continue to gain market share in all our key categories and, although Christmas is less important to Jessops than it is to many other retailers, we are taking a cautious view of the near term outlook in our markets, particularly by comparison with the very strong Christmas we enjoyed last year,” said boss Chris Langley. “It remains very early in our financial year, but subject to the market softness easing, as referred to in our 29th September 2006 trading statement, we are well positioned to deliver in line with our expectations.” The final dividend goes up to 1.5p from 1.4p making a total of 2.25p for the year. Write comment (0 Comments) Recommend this article...

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