Music retailers HMV have moved back into the blackthanks to a reord breaking year for its European business. Full-year pre-tax profits of £48.6 million compare with a loss of £17.8 m last time. Actual sales increased by 7.2% to £1.65bn in the year to 27 Apr. Bosses warned that the World Cup and, to a lesser extent, the Jubilee celebrations had impacted on sales in June, but that trading has recovered at both HMV UK and Waterstone's since England's defeat last Friday.
Jun 27, 2002
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1 min read
HMV moves into the black
HMV has returned to profit, with full-year pre-tax profits of £48.6 million against a previous loss, and sales up 7.2% to £1.65bn.