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07/12/2001
HMV show strong pre-Christmas sales performance
UK retailer HMV has reported a strong sales performance during the autumn.
Sales of blockbuster DVD movies such as Traffic and popular CDs from the likes of Kylie Minogue boosted its earnings, as did well-selling computer games.
A string of new releases have also been carefully timed to pull in the business ahead of the festive period, including compilation CDs from Madonna and Steps.
The strong earnings helped cut HMV Media's pre-tax loss for the first six months of the fiscal year from April to £15.9m from £34m. HMV have now slashed about a fifth off its £473m debts.
The group also said its earnings should reach £120-125m for the full accounting year that ends on 31 March 2002.
The EMI record company that releases The Beatles and Rolling Stones music owns almost half the shares in HMV Group. (MB)
Sales of blockbuster DVD movies such as Traffic and popular CDs from the likes of Kylie Minogue boosted its earnings, as did well-selling computer games.
A string of new releases have also been carefully timed to pull in the business ahead of the festive period, including compilation CDs from Madonna and Steps.
The strong earnings helped cut HMV Media's pre-tax loss for the first six months of the fiscal year from April to £15.9m from £34m. HMV have now slashed about a fifth off its £473m debts.
The group also said its earnings should reach £120-125m for the full accounting year that ends on 31 March 2002.
The EMI record company that releases The Beatles and Rolling Stones music owns almost half the shares in HMV Group. (MB)
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