PARIS Dec 18 Darty Plc, Europe's
third-largest electricals retailer, said on Wednesday it had
agreed to sell its Turkish business under a plan to eliminate
losses in non-core markets and was in talks to buy French
multimedia website Mistergoodeal.
Darty also said it was confident it would deliver an
improvement in earnings over the medium-term as its turnaround
plan was starting to bear fruit and operating profit rose 25.6
percent to 15.2 million euros ($20.87 million) in the first-half
ended Oct 31.
Revenue rose 1.8 percent on a like-for-like basis.
Sales at Darty France, which account for 70 percent of
group's total revenue, rose 2.7 percent, and the group said its
cost-cutting plan in the country was making good progress.
Like its larger rivals - Metro's Media-Saturn and
Dixons Retail - Darty has been battling weak consumer
spending and competition from online retailers.
Darty, which has more than 450 stores in Europe, has
responded by cutting costs, exiting loss-making operations in
Italy and Spain and focusing on its core markets of France,
Belgium and the Netherlands.
Darty shares have gained 78 percent so far this year,
outperforming a 15 percent rise in the European retail sector