Dixons reports 'weaker demand' for computing goods, but says Brexit will bring opportunities for additional growth - PC Retail

Dixons reports 'weaker demand' for computing goods, but says Brexit will bring opportunities for additional growth

Profit after tax rose 17 per cent to £337 million during its latest financial year
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Currys/PC World parent company Dixons Carphone has delivered another strong set of financial results, this time for the 12 months ending April 30th 2016.

Group like-for-like revenues rose five per cent overall, while profit after tax rose 17 per cent to £337 million.

During the year, Dixons Carphone said its electricals business has delivered 'a very solid result' with growth in the sale of white goods offsetting weaker demand in computing. Television sales also performed well.

On the Brexit, Seb James, Group Chief Executive, said: "The nation has spoken and there has been a vote to exit the EU in due course. As you can imagine, we have been giving some thought to this.

"Our view is that, as the strongest player in our market and despite the volatility that is the inevitable consequence of such change, we expect to find opportunities for additional growth and further consolidate our position as the leader in the UK market."

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Earlier this year, the group announced it would be revamping its stores to become three-in-one shops, featuring Currys, PC World and Carphone Warehouse.

James added: “I am very pleased to be announcing another year of significant earnings growth, with profits before tax up more than 17 per cent.

"In this momentous year we have largely completed our merger activities, driven customer satisfaction and market share to all time highs in virtually all of our markets, made our shops more interactive and exciting while becoming ever more competitive with pure-play retailers, launched a new joint venture in the US, launched a new UK mobile network, and embarked on an ambitious property plan in the UK and Ireland.

"We also had our biggest ever trading day on Black Friday last year. We are far from done, though. We have very ambitious plans this year which include making every one of the former Dixons stores one of the new 3-in-1 shops, introducing a lively and interactive new e-Commerce platform to Carphone Warehouse, opening Europe’s most modern distribution centre in Sweden, introducing same-day delivery, rolling out c.150 new stores in the US with Sprint, delivering our honeyBee platform to major global clients, launching our new home services division with a mandate to become a true emergency service for customers across the UK, and continuing to drive market share, price competitiveness and customer satisfaction everywhere. It is likely to be busy.

"I am truly grateful to all of my colleagues – right across the world – for their hard work and dedication. I am also very proud to be able to say that I work alongside such a creative and dedicated group of men and women."

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