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Dixons Carphone reports strong full year profits

Dixons Carphone has reported an uplift in sales and profit in the year to 29 April as it said it was well positioned to “flourish” in… View Article

ELECTRICALS

Dixons Carphone reports strong full year profits

Dixons Carphone has reported an uplift in sales and profit in the year to 29 April as it said it was well positioned to “flourish” in the years to come.

Headline profit before tax rose by 10% to £501 million while statutory pre-tax profit climbed to £386 million from £263 million in the previous year.

Group revenue increased by 3% on a local currency basis and by 9% in sterling terms to £10.58 billion. Like-for-like revenue growth was 4% with an uplift across all divisions.

In the UK and Ireland revenue rose by 2% to £6.55 billion with a like-for-like sales uplift of 4%. The group said its UK electricals business delivered a “solid” result with market share gains across consumer electronics, white goods, computing and multiplay.

Dixon’s Carphone’s Nordic business delivered reported revenue growth of 20%. Like-for-like revenue was up 1%.

Meanwhile, like-for-like revenue in the group’s Southern Europe business increased by 6%, with reported revenue rising by 20%. The uplift was driven by a strong performance in Greece.

Seb James, Dixons Carphone group chief executive, said: “Over the last few years a great deal of work has been done to make the company stronger, lower risk and more resilient. We are seeing the upside of these efforts now as we declare record headline profits before tax of over half a billion pounds – up 10%.

“More importantly, the improvement in our cost base, the strong leadership position that we have built, the investment that we have made in our digital business and, above all, the enormous shift in customer satisfaction and price competitiveness that we have driven leave us well positioned to flourish in the years ahead.”

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