Darty narrows H1 net loss, cautious on market

(Adds details from statement, shares)

PARIS, Dec 11 (Reuters) - Darty Plc, Europe's No.3 electrical goods retailer, narrowed its losses in the first half thanks to lower restructuring charges but losses relating to its online acquisition Mistergooddeal still weighed.

Darty, which competes with Metro (Other OTC: MTRAF - news) 's Media-Saturn and Dixons Carphone (LSE: DC.L - news) , also said it remained cautious about the market environment in the short term and focused on cost control.

By 0911 GMT, Darty shares were down 5.3 percent at 63.5 pence, underperforming a 0.97 percent rise in the European retail sector.

Like its rivals, Darty has been battling weak consumer spending and competition from online retailers. It completed the acquisition of Mistergooddeal in April to get a better foothold in the sector. However it warned in September that the business would make a bigger loss than expected this year.

Darty, which has more than 450 stores in Europe, has responded by cutting costs, exiting loss-making operations in Italy and Spain, Turkey and the Czech Republic and focusing on its core markets of France, Belgium and the Netherlands.

Darty said on Thursday its net loss narrowed to 4.7 million euros in the six months to October 31 from a loss of 19.8 million euros a year-ago while operating profit rose to 9.3 million euros from a loss of 1 million euros.

Darty however posted a 38 percent fall in first half operating profit before taxes and exceptional items, including a 4.8 million loss related to Mistergooddeal.

Revenue declined 1.2 percent on a like-for-like basis, due to a slower second quarter, amid more challenging market conditions and strong comparatives in the year-ago quarter.

Sales at Darty France, which account for 70 percent of group total revenue, fell 1.7 percent in the first-half.

(Reporting by Dominique Vidalon; Editing by Andrew Callus)