6th Sep 2006 07:02
DSG International PLC06 September 2006 7.00am, Wednesday 6 September 2006 DSG INTERNATIONAL PLC AGM STATEMENT DSG international plc is today updating the market on trading for the 16 weeksended 19 August 2006. 16 Weeks ended 19 August 2006 Sales Total growth Like for like growth UK & Ireland Electricals +8% +8% Currys +7% +8% Ireland +28% +13%Nordic - Elkjop +32% +9%Southern Europe +6% (3)% UniEuro 0% (7)% Kotsovolos +20% +7%Central Europe - Electro World +52% n/aElectricals Division +13% +6% UK Computing - PC World +4% 0%International Computing - PC City +29% n/aComputing Division +7% 0% Total Group (including New Businesses Division) +14% +5% Like for like gross margins across the Group for the 16 weeks to 19 August 2006were in line with last year, overall gross margins were down slightly afterincluding Fotovista following its acquisition. Prior year comparatives under the above Group structure are included in theappendix to this announcement. NOTES: (1) Total sales for the Divisions and the Group are in Sterling. All other figures are in local currency. (2) The changes in Group sales exclude The Link operations to be discontinued. (3) Like for Like sales in the UK exclude sales of customer support agreements. (4) Currys comprises Currys, Currys.digital and Dixons Tax Free. (5) UK computing comprises PC World, PC World Business and Genesis Communications. Like for like sales are for PC World stores only. (6) The number of PC City and Electro World stores trading in the earlier periods were insufficient for a meaningful like for like comparison to be made. (7) New Businesses Division is not shown separately as the base for prior year comparison is not meaningful. John Clare, Group Chief Executive, commented: "Overall the Group has performed well in most of our markets during the first 16weeks of this financial year. Flat Panel Television sales across Europe wereboosted by the World Cup and, in the weeks since, have continued to grow year onyear. Laptops also continued to perform well. The white goods market in the UKhas started to show some signs of improvement. I am particularly pleased by the strong performance at our two largestelectrical retail businesses, Currys and Elkjop. In the case of Elkjop, thiswas against an equally strong performance last year. Kotsovolos also performedwell. UniEuro in Italy, in contrast, has been impacted by a subdued economy, politicalreforms and a tough competitive environment. Management has recently beenstrengthened and are focused on preparations for peak season. Dixons move to become a pure online retailer has started well, and the rebrandedCurrys.digital stores are performing in line with our expectations. I am pleased to report that we will be extending our successful Electro Worldbrand into Turkey in the next two years, having entered into a joint ventureagreement with a local operator. I am encouraged by the good start to this financial year and believe that thisyear's pipeline of digital products will continue to capture the imagination ofour customers. However, this first quarter is a relatively less significant onefor the Group. The important peak trading period is still ahead of us and it ismuch too early to extrapolate trends for the year as a whole. We are confidentthat our focus on serving the needs of our customers, in addition to costmanagement, margin protection, capital discipline and retail innovation positionus well for further growth." - Ends - For further information David Lloyd-Seed, Director of Investor Relations, DSGi 01727 205065 Hamish Thompson, Director of Media Relations, DSGi 01727 203 195 / 07702 684290 Jonathon Brill, Financial Dynamics 020 7269 7170 Information on DSG international plc is available at http://www.dsgiplc.com APPENDIX PRIOR YEAR COMPARATIVES Reproduced below are the total and like for like sales for the Group for the 16weeks to 20 August 2005 under the new divisional structure for comparativepurposes. 16 Weeks ended 20 August 2005 Sales Total growth Like for like growth UK & Ireland Electricals (3)% (2)% Currys (4)% (3)% Ireland +20% +9%Nordic - Elkjop +9% +7%Southern Europe n/a +2% UniEuro +6% 0% Kotsovolos n/a +8%Central Europe - Electro World (7)% n/aElectricals Division +7% +1% UK Computing - PC World +1% (7)%International Computing - PC City +33% n/aComputing Division +4% (6)% Total Group (including New Businesses Division) +6% (1)% NOTES: (1) Total sales for the Divisions and the Group are in Sterling. All other figures are in local currency. (2) The changes in Group sales exclude The Link operations to be discontinued. (3) Like for Like sales in the UK exclude sales of customer support agreements. (4) Currys comprises Currys, Currys.digital and Dixons Tax Free. (5) UK computing comprises PC World, PC World Business and Genesis Communications. Like for like sales are for PC World stores only. (6) The number of PC City and Electro World stores trading in the earlier periods were insufficient for a meaningful like for like comparison to be made. (7) New Businesses Division is not shown separately as the base for prior year comparison is not meaningful. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DXNS.L