logo
Share SHARE
FONT-SIZE Plus   Neg

Dixons Retail 12-week Sales Rise, Sees Pre-tax Profit In Line With Market View

Specialist electrical retail and services firm Dixons Retail Plc. (DXNS.L) Thursday reported a 2 percent growth in total sales for the 12-week period ended January 5, with a like-for-like sales growth of 3 percent. Sales improved 4 percent at local currency.

Looking ahead to the full year, the company expects underlying profit before tax to be in line with market view of 75 million pounds to 85 million pounds.

In UK & Ireland, total sales increased 7 percent both in Sterling and local currency. On a like-for-like basis, sales rose 8 percent from last year. Northern Europe continued its strong performance, with like-for-like sales improving 11 percent for the 12-week period.

In Southern Europe, comprising Italy, Greece, Turkey, like-for-like sales dropped 8 percent from the previous year.

Sebastian James, chief executive of the company stated, "Our key multi-channel businesses delivered an encouragingly strong result during the Christmas period, particularly in the UK & Ireland and in Northern Europe."

Meanwhile, its single-channel business PIXmania had a poor period impacted by ongoing restructuring of the business, in addition to significant negative trends in its main markets. However, Dixons noted that progress continues on the restructuring plan to improve financial position of the business.

Group gross margins were down 0.5 percent, driven mainly by product mix.

In London, Dixons Retail shares are currently trading at 27.36 pence, up 0.90 percent, on a volume of 21.21 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
They say there's plenty of fish in the sea, but very few of them are as wealthy as these tycoons. May be they have been so busy building their empires they never had the time to stick with a perfect partner to build their family. This list of the richest singles is assorted — from a 34 year-old... Anthony Levandowski, the head of Uber's self-driving division, is stepping away from his role as Uber continues a legal battle with Waymo, Levandowski's former employer. Levandowski, who founded startup Otto, became head of Uber's Advanced Technologies Group or ATG after Otto was acquired by Uber in August 2016. Southwest Airlines Co. has decided to end the practice of overbooking flights, the airline's CEO Gary Kelly said Thursday. The airline's plan to end overbooking could be implemented from May 8, according to a Southwest spokeswoman.
comments powered by Disqus
Follow RTT