10th Sep 2015 06:19
LONDON (Alliance News) - Dixons Carphone PLC on Thursday said its like-for-like sales grew in the first quarter, driven by a strong performance in the UK and Ireland which offset mixed conditions in Southern Europe.
The FTSE 100-listed electricals retailer, created by the merger of Dixons Retail and Carphone Warehouse last year, said its group like-for-like revenue growth in the 13 weeks to August 1 was 8%, driven by 10% growth in the UK and Ireland.
Like-for-like revenue from its Nordics operations was up by 4% in the quarter, but Southern Europe revenue was flat, as an improvement in Spain and growth in Greece was offset by challenging markets elsewhere.
"This is a very encouraging first quarter with excellent growth for the group overall, showing strong like-for-like revenues in the UK driven principally by significant market share gain in phone sales," said Sebastian James, Dixons Carphone's chief executive.
"Overall, a very good start to the trading year, but I am aware that there is plenty of the year left to go. In the next quarter we will anniversary the startlingly successful iPhone6 launch, the consolidation of the mobile market and, later in the year, an extraordinary Black Friday. Nevertheless, our whole team believes that the business is in very good shape to have another successful year, and I look forward to giving a further update at the interims in December," James added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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