Darty posted a pretax profit of
"We have seen overall market share gains, delivered positive like-for-like sales growth and improved our profit performance for the first time in three years," said Chief Executive RÉgis Schultz in a statement.
The company said it expects market conditions to remain challenging in the year ahead, but said it is well placed to deliver growth.
"Our aim over the medium term is to build our market share in
The company maintained its total dividend for the year just ended at
In a statement last month, Darty said its overall group gross profit margin was flat in the final quarter of its financial year, hit by promotional discounting, while revenues and like-for-like sales in its core French business were flat with a decline in gross margin. It said sales were hit by significant sales decline in its
Darty said Thursday that its business has improved, having eliminated losses in its non-core markets with the managed closure of
During the year, the group's French subsidiary, Etablissements Darty et Fils, known as
It also sold its Turkish operations to
"I am encouraged by the early results of our initiatives for future growth - the launch of our franchise business, building on the acquisition of Mistergooddeal.com and expanding our successful kitchen offer," said Schultz.
Darty shares were trading 4.8% higher early Thursday at
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