French electronics group Darty has managed to limit its loss for the first half of the fiscal year compared to a year ago. The Belgian branch, which contains Vanden Borre, performed very well.
Like-for-like turnover drop
Darty's total turnover grew 3.5 % to 1.64 billion euro, mainly thanks to the Mistergooddeal acquisition which was finalized in April. The like-for-like turnover dropped 1.2 % because of a weaker second quarter.
Darty also had to deal with a 4.7 million euro net loss in its first two quarters, which still is a huge improvement compared to the 19.8 million euro net loss of the year before. Operational profit grew to 9.3 million euro, on the back of a million euro operational loss the year before.
Decent Belgian results
Darty France's turnover, which represents 70 % of the group's total turnover, dropped 1.7 %, but its Belgian branch (which contains Vanden Borre) performed well. Vanden Borre managed a 3.3 million euro profit, a huge spike compared to the 1.1 million euro it managed last year.
Its 117 Dutch and Belgian stores, consisting of BCC and Vanden Borre, managed a 327.6 million euro turnover, which is a 5 million euro growth. Like-for-like turnover rose 0.8 %.