3rd Jun 2015 06:19
LONDON (Alliance News) - Dixons Carphone PLC Wednesday reported growth in like-for-like sales in both the fourth quarter of its financial year and in its full year, and said it expects pro-forma headline pretax profit for the year to exceed the top end of its guidance.
The FTSE 100 electricals and telecoms retailer said in a trading update that like-for-like revenue in the 17 weeks to May 2 was up 9% and up 6% for the full year to the same date.
The UK and Ireland showed the biggest rise of 13% in the quarter and 8% in the full year. The Nordics grew 1% in the quarter and 4% in the full year, while Southern Europe grew 8% in the quarter but declined 5% in the full year.
Dixons Carphone, created from the merger last year of Dixons Retail PLC and Carphone Warehouse PLC, said like-for-like revenue growth in the UK & Ireland was boosted by improving momentum over the Christmas period, with both electricals and mobile trading strongly, while Southern Europe also demonstrated a significant improvement in the Christmas quarter.
Like-for-like sales growth was slower in the Nordics however, due to the impact of the weaker oil price on the Norwegian economy and its currency, as well as a softer consumer backdrop in Finland, the company said.
Dixons Carphone added that it expects group pro forma headline pretax profit to be slightly above the top end of its previously guided range of GBP355 million to GBP375 million for the full year.
"It is a truism that the time to fix the roof is when the sun is shining, and we will pursue continued investment in the business this year to do just that. We are making excellent progress but there is still much to do, and many areas of the business that we want to improve further. Delivery options, IT investment, extending our free warranty programme, further training for our colleagues, Norwegian pricing and others are in our sights to make us stronger in the long term," Chief Executive Sebastian James said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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