iPad ‘helped grow the computing market’

Dixons sees signs of improvement despite annual fall in profits

Dixons, which owns Currys and PC World, has reported a fall in annual sales and profits.

The report reveals that although overall like-for-like sales fell three per cent to £8.2 billion, the final quarter of the year actually saw a five per cent increase in like-for-like sales. The report also shows that underlying operating profits rose 15 per cent.

This rise in Q4 could be down to the demand for Apple’s iPad and other tablets and gadgets that were released in time for the Christmas market.

Dixons said that the launch of the new iPad had ‘helped grow the overall computing market’.

The company also managed to halve its net debt to £104 million.

Shares were down three per cent in morning trade despite Dixons reporting that it was on target to make a £106 million repayment, due in November.

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