HMV Group Plc on Tuesday posted an 11.5 percent rise in annual profit.
By Rebecca Waters
The group, which runs music, DVD and video games shops under its own name as well as Waterstones bookstores, said it made profit before tax and one-off items of 63 million pounds in the year to April 25.
Sales from continuing operations rose 4.4 percent to 1.96 billion pounds.
Commenting, Chief Executive Simon Fox said that HMV was “cautious” about the economic environment but is “confident of our plans for the current financial year.”
He added that the group is looking at further growth opportunities and is “very pleased” with the recently announced joint venture in live music and partnerships for film and mobile.
The group is trialling digital cinemas in partnership with Curzon and selling mobile phones in a deal with France Telecom's Orange.
On Monday, HMV shares closed at 118.75 pence, valuing the business at about 485 million pounds.
The retailer kept its dividend at 7.4 pence a share.