23rd Nov 2005 07:01
DSG International PLC23 November 2005 PR 88/05Strictly embargoed: for use after 07.00 hoursWednesday 23 November 2005 DSG INTERNATIONAL PLC TRADING STATEMENT FOR THE 28 WEEKS ENDED 12 NOVEMBER 2005 DSG international plc, the leading European specialist electrical retailer, istoday updating analysts on trading for the 28 weeks ended 12 November 2005. Group sales performance for the period was as follows: Total Like for Like Sales Sales -----------------------------UK & Ireland Electricals Currys (1%) (3%) Dixons (8%) (2%) Ireland +22% +10%Nordic - Elkjop +10% +5%Southern Europe Kotsovolos n/a +10% UniEuro +10% +4%Central Europe - Electro World 0% n/a -----------------------------Total Electricals Division +8% +1% ----------------------------- UK Computing - PC World (1%) (8%)International Computing - PC City +31% n/a -----------------------------Total Computing +2% (7%) UK Communications The Link Communications Group (21%) (28%) -----------------------------Total Computing & Communications (3%) (12%)Division ----------------------------- Total Group +4% (3%) ============================= Gross margins across the Group were in line with last year. NOTES: 1. All figures are based on local currency performance whilst the sub-totals for the divisions and the totals for the Group are based in Sterling2. Total sales growth for Kotsovolos is not meaningful as it was not consolidated for the whole comparative period3. Total sales for PC World include PC World Business. Like for like sales are for PC World stores only4. Store numbers for PC City and Electro World were insufficient in the comparative period for a meaningful like for like comparison5. Total sales for The Link Communications Group include Genesis. Like for like sales are for The Link stores only.6. The change in total Group sales excludes Codic, the discontinuing residual property operations. John Clare, Chief Executive, commented: "The overall level of trading in the Group remains broadly unchanged from thatpreviously reported at our AGM in September. Our international operations inaggregate continue to perform well with notable performances in our establishedbusinesses in the Nordic countries, Greece, Italy and Ireland. Tradingconditions in the UK remain difficult. There has been no further significantdeterioration in our overall trading in the UK during the period, but equally,no clear indication yet of any recovery in our markets. Our priorities remain onmargin, cost and capital management. We are entering the most important trading period of the year. The Group is wellprepared, our ranges and deals are strong and we are fully focused on meetingthe needs of our customers. I am confident that we will perform well relative toour competitors." During the first half, total Group sales were +4% and like for like sales weredown 3%. In UK retail total sales were down 4% and like for like sales were down7%. In international retail total sales were +24% and like for like sales were+4%. Electricals Total sales in the Electricals division were up 8% and like for like sales wereup 1%. In the UK and Ireland electricals operations, total sales were down 2% and likefor like sales were down 2%. The major white appliance market has beenparticularly weak in recent months, but Currys continues to gain share in thismarket. Dixons sales remain satisfactory in its core personal electronicsmarkets. In the Nordics, Elkjop continued to make good progress across all its markets. In Southern Europe, UniEuro benefited from the ongoing restructuring of thebusiness whilst Kotsovolos continues to perform in line with expectations sincethe controlling interest was acquired in September 2004. In Central Europe, Electro World also continues to make satisfactory progress.In October Electro World announced the opening of its first store in Poland andplans to accelerate the roll out of its stores across Central Europe. Computing & Communications Total sales in the Computing & Communications division were down 3% and like forlike sales were down 12%. Increasing unit sales and market share gains have not been sufficient to offsetthe continued price deflation in the PC hardware market. PC City grew sales in line with expectations as investment continued in bothstore expansion and promotional activity to grow market share. The performance at The Link Communications Group across the first half-year wasdisappointing; however the new management team are fully focused on improvingsales and market share over peak season. The Group will announce interim results for the 28 weeks to 12 November 2005 on18 January 2006. The Group will also issue an update on current trading at thattime. Maylands Avenue John ClareHemel Hempstead Group Chief ExecutiveHertfordshire HP2 7TG 23 November 2005 For further information DSG international plcKevin O'Byrne, Group Finance Director01727 203201 David Lloyd-Seed, Director of Investor Relations01727 205065 Hamish Thompson, Director of Media Relations01727 203 195 / 07702 684290 A copy of this announcement, together with information on DSG international plc,is available at http://www.dsgiplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DXNS.L