15th May 2008 07:00
PR 45/08 Strictly embargoed
For release at 07.00 hours
15 May 2008
DSG INTERNATIONAL plc
FULL YEAR TRADING STATEMENT
DSG international plc is today updating the market on trading for the 29 and 53 weeks ended 3 May 2008.
Total Group sales for the year were up 8% and like for like sales up 1%
Group Internet sales reach £1 billion
Trading environment remains very challenging, particularly in the UK, Italy and Spain
Sales trends are in line with those previously reported
Like for like gross margins across the Group were down 0.7% year on year
Full year underlying profit before tax expected to be in the range of £200 - £210 million, as previously announced
Final dividend of 3.43p proposed, giving full year dividend of 5.45p
Net finance cost of approximately £10 million anticipated for the 2008/09 financial year
Plans for the renewal and transformation of the Group announced separately today
|
29 weeks ended 3 May 2008 |
53 weeks ended 3 May 2008 |
|||
|
Sales |
Total growth |
Like for like growth |
Total growth |
Like for like growth |
|
ELECTRICALS |
||||
|
UK & Ireland |
+3% |
0% |
+4% |
+3% |
|
Nordic |
+3% |
0% |
+5% |
+2% |
|
Southern Europe |
+4% |
(8)% |
+5% |
(6)% |
|
Italy |
0% |
(13)% |
+1% |
(11)% |
|
Greece |
+14% |
+3% |
+13% |
+4% |
|
Central Europe |
+13% |
n/a |
+14% |
n/a |
|
Total Electricals Division |
+10% |
(1)% |
+8% |
+1% |
|
COMPUTING |
||||
|
UK |
(4)% |
(9)% |
(1)% |
(5)% |
|
International |
+2% |
n/a |
+8% |
N/a |
|
Total Computing Division |
(1)% |
(10)% |
+1% |
(6)% |
|
E-COMMERCE Division (Dixons.co.uk & FotoVista) |
n/a |
+28% |
n/a |
+27% |
|
Total Group |
+8% |
(1)% |
+8% |
+1% |
John Browett, Chief Executive, commented:
"As I reported on 10 April, the trading environment remains challenging across our markets, particularly in the UK, Ireland, Italy and Spain. Customers have become increasingly promotion and deal driven, impacting gross margins.
DSGi has many inherent strengths as a leading specialist electrical retailer. So I am today pleased to be announcing our plans for the transformation and renewal of the Group. We will focus the business on delivering for our customers through offering an unbeatable combination of value choice and service. There will be an ongoing strategic review of sub-scale and loss making businesses.
The economic backdrop makes it difficult to forecast business performance and we remain very cautious about consumer confidence in many of our markets.
There is much to do to simplify the business which will ultimately improve the customer offer, make the Group a better place to work and deliver value to our shareholders."
NOTES:
- ENDS -
For further information
Investor Relations:
David Lloyd-Seed, Group Communications Director, DSGi 01727 205065
Press and Media:
Mark Webb, Head of Media Relations, DSGi 01727 205019
Laura Cummings, Brunswick Group 020 7404 5959
Information on DSG international plc is available at http://www.dsgiplc.com
Appendix
Prior year comparatives
The table below sets out the total sales and like for like sales for the 28 week and 52 week period to 28 April 2007.
|
28 weeks ended 28 April 2007 |
52 weeks ended 28 April 2007 |
|||
|
Sales |
Total growth |
Like for like growth |
Total growth |
Like for like growth |
|
ELECTRICALS |
||||
|
UK & Ireland |
+0% |
+1% |
+2% |
+3% |
|
Nordic |
+21% |
+7% |
+24% |
+9% |
|
Southern Europe |
+5% |
(3)% |
+4% |
(3)% |
|
Italy |
+2% |
(7)% |
(1)% |
(8)% |
|
Greece |
+14% |
+6% |
+17% |
+7% |
|
Central Europe |
+24% |
n/a |
+36% |
n/a |
|
Total Electricals Division |
+6% |
+1% |
+8% |
+3% |
|
COMPUTING |
||||
|
UK |
+4% |
+3% |
+6% |
+4% |
|
International |
+23% |
n/a |
+26% |
n/a |
|
Total Computing Division |
+6% |
+3% |
+8% |
+3% |
|
E-COMMERCE Division (Dixons.co.uk & FotoVista) |
n/a |
+187% |
n/a |
+182% |
|
Total Group |
+13% |
+3% |
+14% |
+4% |
NOTES:
Related Shares:
DXNS.L