More upbeat news from the music retail sector who don't seem to have been too affected by growth of the download sector just yet. HMV yesterday reported a 22% jump in profits coming from a 5% rise in revenues. Although helped considerably by their bookselling operation Waterstones, revenues at HMV itself were up 4.9%.
Commenting on the figures HMV boss Alan Giles said: "These results reflect a very good year for the group including another impressive performance by our largest business, HMV UK & Ireland. We are especially pleased with the excellent improvement at Waterstone's, where we believe there is still more growth to come."