After a disappointing start to its float, things are starting to pick up. Since the release of results in December, the shares have steadily increased from 147p to 161p.

The group has a strong and fast growing market share and should perform well.

I agree bonfield. Heres the statement...

Jessops sees H1 profit in line; CEO Hine to retire UPDATE
AFX


(Adds IFRS adjustment for yr to Sept profit)

LONDON (AFX) - Photographic retailer Jessops PLC said its first half profits will be in line with expectations, and said its chief executive Derek Hine is to retire.

In a pre-close trading statement ahead of its first half results announcement on May 17, Jessops said Hine will be succeeded by Chris Langley, currently chief operating officer from that date.

Jessops said profit for the six months to April 2 will be in line with its expectations.

It said trading over the Christmas period was 'strong', with sales for the five weeks to Jan 1 up 13.3 pct overall and up 9.4 pct on a like-for-like basis.

Since then, it said it has 'performed in line with its plan, in what remains a tough retail environment'.

Total sales for the 25 weeks to Mar 26 were up 6.5 pct, with like for like sales up 2.6 pct.

Store sales actually fell on a like for like basis by 0.2 pct in the 25 weeks to Mar 26, with the decline in the 13 weeks to Mar 26 widening to 2.2 pct. The company attributed this to Easter falling outside the period this year.

Gross margins during the period improved by approximately one percentage point compared with the first half of 2005, as a result of further exclusive merchandise deals and the continued focus on higher margin developing and printing and own brand accessories, it said.

Direct like for like sales increased by 51.0 pct during the six month period.

Jessops said digital camera sales in the first half were up 15 pct by value, with digital SLR camera sales up 52 pct by value.

Jessops also detailed the impact moving to the new IFRS accounting standard would have had on its year to Sept results. Jessops said pretax profit would be 9.9 mln stg under IFRS, compared with the UK GAAP figure of 5.9 mln reported. The difference stems chiefly from changes to the treatment of goodwill amortisation.





newsdesk@afxnews.com

ra/jm



cheers GF.

looking good today, had a broker's rec, Cazenove I believe.

and we're off! 150+ in a matter of weeks i reckon. Watch this space......

Really breaking out now. Just shows patience pays off... NICE.

cheers GF.

Yes GF slowly but surely i`m recouping my losses.
DB66

When did you buy them DB ?.

Im on paper 25% up since buying them.

cheers GF.

Jan 2005 paid 1.58 ! oh well i`m sure i will get my money back in the near future.

Good call GF i did think about buying some more when you got in but didn`t didn`t have the courage of my convictions .
Have you noticed TMN today one of your old picks,i do flag it up sometimes as i think it is worth a mention although internet stocks are one hell of a gamble due to lack of assets .
Cheers DB66

I think 150p is on the cards medium term DB but were still getting some resistance from stale bulls.

holding up heroically in this panicky market. All hopes rest on tomorrow's Interims. Better be an up day...

As soon as I heard Jessops were going to float about 2 years ago, I knew it was a dog. Their shops were filled with no hoper staff. Can't see them surviving the next 2 to 3 years without much blood on the carpet.

well that's a relief, onwards and upwards :--).

Yup a solid set of results....

Jessops reports solid first half
MoneyAM
Jessops reported a solid first half performance with total sales up 10.4% and earnings before interest and tax (EBIT) rising 15.2%.

The company said total sales were 178m, up from 161m in the same period last year, while like-for-like sales rose 2.3%. Direct like-for-like sales from the internet and mail order jumped 51.9%.

Jessops said EBIT rose to 6.5m while pretax profit excluding one-off costs were up 52% at 5.1m from 3.3m last year. The company proposed an interim dividend of 0.75p per share, up 7.1% on last time.

The company said current trading is in line with expectations and despite an expected tough retail environment, it believes Jessops is on track to meet its expectations for the year.

They had better close their high st retail operation if they want to see more growth.

Wrong thread.

Right one now.......

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5

If the brokers are saying buy, then they must be holding stock they want to dump. So its still a big sell.

......

get a life toby.

Hes not Henry Matisee is he from advfn????????????????????.

Jessops appoints Robin Whitbread as commercial director
AFX


LONDON (AFX) - Jessops PLC, the photographic retailer, said Robin Whitbread, currently a non-executive director, is to take up the position of commercial director with effect from July 3.

Whitbread, a former J Sainsbury PLC and Somerfield executive, will be responsible for day to day commercial operations, including stores, buying, marketing and developing and printing (D&P).

Jessops said Whitbread will remain on the board but has stepped down from his position as chairman of the remuneration committee. A new non-executive director will now be sought.



newsdesk@afxnews.com

jdd/slm