22nd Jan 2019 09:06
LONDON (Alliance News) - Dixons Carphone PLC on Tuesday reported a good peak trading performance during the recent festive season, which it said came in line with the company's views.
Despite the positive Christmas trading, Dixons reiterated its annual pretax profit guidance of GBP300 million, which will be 21% lower than the GBP382 million reported for the year ended April 2018.
Dixons shares were trading up 1.8% at 140.00 pence each.
For the 10 weeks ended January 5, the electronics retailer posted group like-for-like revenue up 1%. Reported revenue overall was flat on the previous year.
In UK & Ireland electricals, revenue was up 2% on the comparative period a year ago, both on a reported and like-for-like basis. The increase was driven by a standout performance in TV, Dixons explained, despite a challenging backdrop and a declining market.
The company's UK & Ireland mobile division saw revenue drop 12% on a reported basis and 7% on a like-for-like basis due to a 8% fall in 24-month postpay market.
Revenue in the retailer's International arm meanwhile rose 4%, with like-for-like up 5%. The Nordics unit saw revenue up 3% while Greece rose by a staggering 19%.
"Peak trading was solid and in line with expectations, producing record sales against a tough backdrop. We continued to grow our leading electrical market positions in all territories, online and instore. In UK mobile, performance was as expected. Overall, our peak trading was disciplined and well-executed, with stable gross margins," Chief Executive Officer Alex Baldock said.
Related Shares:
DC..L