Kesa Electricals, owner of Comet and Darty France electrical stores, shares have fallen despite Chief Executive Thierry Falque-Pierrotin saying the group was on track to meet profit expectations of £72 million.
Europe's no 3 electricals retailer was helped in part by its Darty France performance which continues to perform better than Comet - it's British No 2 brand.
"We expect adjusted profit before tax for the full year to be significantly ahead of last year and in line with the average of current market expectations of 76 million pounds ($113 million)," said Thierry Falque-Pierrotin.
Revenues at Comet fell 4 pct, but grew 3.4 pct at Darty France.
Both figures were below expectations though, and analysts are concerned over the resurgence of DSG International, and arrival of US company, BestBuy.
Goldman Sachs, in a note on 4th May announced expectations for Kesa Electricals to make 5.6 pct revenue growth, £100 million profit and £5,324 million revenue total but cautioned with a 'sell' rating.
Today's preliminary results show that full year growth remains below their expected, with revenue expected to come in around £5,162 million - £160 million below their expectations.
Despite this, Thierry Falque-Pierrotin, Chief Executive commented:
"We are satisfied that overall the Group traded in line with or ahead of its markets during this seasonally quiet period and we are encouraged by the improvement we have seen in gross margin. We are also pleased that our strategic focus on the Developing businesses and cross channel sales is bearing fruit with a strong like for like performance at our Developing businesses and a substantial increase in web generated sales." said.
Kesa shares opened at 112.70 pence on Wednesday morning, valuing the business at about 597 million pounds but has since risen.