16th Jul 2015 06:28
LONDON (Alliance News) - Dixons Carphone PLC Thursday reported growth in profit in its recently-ended financial year as sales continued to grow following the merger of Dixons Retail PLC and Carphone Warehouse PLC last year.
The FTSE 100-listed electricals and telecoms retailer said pretax profit in the year to May 2 rose to GBP287 million from GBP77 million the year before, as revenue grew to GBP8.3 billion from GBP1.9 billion. Total like-for-like sales were up 6% on the prior year.
Newly merged Dixons Carphone said that the integration of the two businesses is progressing well and is expected to deliver at least GBP80 million of synergies by the financial year 2017, one year ahead of plan.
Dixons Carphone will pay a final dividend of 6 pence, up from the 4p it paid the year before, taking the total dividend for the year to 8.5p from 6p, a 42% increase.
"The job is far from done. I am acutely aware that there is no room for complacency in a sector which has seen unprecedented change, bringing both opportunities and challenges. We have set ourselves ambitious goals, not only financial, but also in terms of driving customer happiness, building a completely integrated company and delivering a brand new global services business with CWS. To achieve these, we will need to exhibit creativity, energy, resilience and toughness of purpose," Chief Executive Sebastian James said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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