Dixons Carphone revenues rise again ahead of first US store opening

UK and Ireland revenues up 10% in Q1 2015/16
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Dixons Carphone has made a strong start to its financial year, with UK and Ireland like-for-like revenues rising 10 per cent during its Q1 2015/2016 period.

For the 13 weeks ended August 1st 2015, the Currys/PC World/Carphone Warehouse owner saw group like-for-like revenues increase eight per cent across the board.

The retail giant posted good performance in the Nordics with like-for-like revenues up four per cent, while recording flat like-for-like revenues in Southern Europe. Trading improved in Spain and the company saw growth in Greece despite it remaining a challenging market.

The news comes ahead of Dixons Carphone opening its first US stores next week, in partnership with Sprint.

Sebastian James, Group Chief Executive, said: “This is a very encouraging first quarter with excellent growth for the Group overall, showing strong like-for-like revenues in the UK driven principally by significant market share gain in phone sales. Against the World Cup last year I was also pleased to see growth in UK electricals.

"At the same time, we have continued to see improvements in customer satisfaction and price competitiveness through the period and across all our major territories. Our Nordic business has also experienced decent growth overall against a slightly less buoyant market backdrop.

"Our multi-channel proposition continues to make good headway against our competitors, both on and offline, and we continue to invest in those areas that will ensure our long term profitability: service, delivery options, expansion of free warranty, digital marketing and Norwegian price competitiveness.

"Work has started well on our new venture with Sprint in the US and we are opening our first stores next week. The integration is also going smoothly with our UK head-office move on track and the new management structures in place and working well.

James added: "Overall, a very good start to the trading year but I am aware that there is plenty of the year left to go. In the next quarter we will anniversary the startlingly successful iPhone 6 launch, the consolidation of the mobile market and, later in the year, an extraordinary Black Friday.

"Nevertheless, our whole team believes that the business is in very good shape to have another successful year, and I look forward to giving a further update at the interims in December.”

Back in July Dixons Carphone posted its first financial results as a merged company, and told PCR it was hoping to increase its PC gaming offering.

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