British music and book seller HMV reported a bigger than expected 70% leap in first-half profits and a rise in key Christmas sales this morning, putting it on course to hit its full-year targets.
HMV said like-for-like sales were up 3% in the five weeks to January 3.
Its HMV UK & Ireland music stores reported like-for-like sales up 3.3%, ahead of forecasts, while its Waterstones bookshop business reported like-for-like sales growth of 3.5% in the five weeks.
First-half pre-tax profits rose by 70% to £10.7m. The firm makes about 90% of its profits in the second half of its financial year, which ends in April.
