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Dixons Carphone raises profit forecast after 'roller-coaster' Christmas

Dixons Carphone has raised its full-year profit forecast after a “roller-coaster” Christmas trading period led to a good end result.

GENERAL MERCHANDISE

Dixons Carphone raises profit forecast after 'roller-coaster' Christmas

Dixons Carphone has raised its full-year profit forecast after a “roller-coaster” Christmas trading period led to a good end result.

The group, which formed last year due to the merger of Dixons and Carphone Warehouse, now expects a pre-tax profit of £355 million to £375 million.

In the nine weeks to 3 January, group like-for-like revenue rose by 7%. Revenue increased by 8% in the UK and Ireland and by 6% in Northern Europe. However, revenue in Southern Europe declined by 4% in the period.

Sebastian James, Dixons Carphone group chief executive, said: “The strange shape of this year’s Christmas trading was something of a roller-coaster but I am very pleased with the end result.

“In all of our largest trading markets we have excellent like-for-like performance against fairly tough comparables.

“At the same time, we have also experienced stable gross margin. There is no doubt that the huge scale and success of our Black Friday promotion impacted the three weeks that followed, but it was good to see customers respond positively to the deals that we had on Boxing Day where we saw growth from our record-breaking numbers last year in both the UK and Nordics.

“Our availability, pricing, service and marketing were all achieving very strong performance and customer metrics, and this translated into growth in market share in all our key territories.”

James said online sales had risen as a proportion of total sales with “excellent” growth in both home delivery and click-and-collect. In addition, the group saw a return to growth in laptops but tablet sales fell sharply due to lack of innovation in the category. There was also strong growth in sales of ultra-high-definition TVs.

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