Thursday 24 August 2017

Dixons Carphone records 'strong sales' in Ireland

Dixons merged with Carphone Warehouse last year in a £3.8bn (€5.4bn) deal. Photo: Reuters
Dixons merged with Carphone Warehouse last year in a £3.8bn (€5.4bn) deal. Photo: Reuters
John Mulligan

John Mulligan

Dixons Carphone said its business here is performing well, with "strong sales" across its network of stores in Ireland.

"We have ambitious targets for the business here and are more than encouraged by the early start to Christmas for Irish consumers this year," said Mark Slater, managing director of Dixons Carphone Ireland.

He was commenting as the UK parent reported first half profits that beat forecasts.

Its profits rose 23pc to £121m (€166m) in the period, while like-for-like revenue climbed 5pc. Like-for-like revenue was 3pc higher in the second quarter.

Chief executive Sebastian James said that the group had delivered like-for-like growth despite a market that overall was flat, and when the firm had a very strong comparative period due to last year's World Cup.

He added that the business in the UK and Ireland had an "impressive start" to the financial year, with 31pc earnings growth.

Dixons merged with Carphone Warehouse last year in a £3.8bn (€5.4bn) deal. "Our integration continues to go well and it gives me real pleasure to see the business looking and feeling like a single unit," said Mr James. "The vast majority of the difficult decisions have been made."

Mr Slater said that the ID mobile network launched here and in the UK this year by Carphone Warehouse has also performed well.

It's targeting a 5pc share of the Irish market, which would equate to about 240,000 subscriptions.

"We experienced very strong retail sales in mid-November which have intensified since Black Friday - our biggest ever trading day in Ireland," said Mr Slater.

"We're looking at how we become more efficient as a business," he told the Irish Independent in a recent interview.

"Fundamentally, our whole agenda has to be a growth one. The way to actually get the business into a much better and profitable position is to grow the top line." Shares in Dixons Carphone rose as much as 2pc yesterday.

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