Thursday 22 February 2018

Dixons Carphone profits rise 17pc to €539m

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

Electricals and mobile phones giant Dixons Carphone has unveiled a 17pc rise in an annual pre-tax profits to £447m (€539m) and brushed off fears surrounding the result of Britain's EU referendum.

Chief executive Seb James said that, despite the poll outcome, the Currys and PC World owner will continue to find opportunities to grow.

He 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."

Like-for-like revenue rose 5% over the year after Dixons Carphone continued to snap up a greater share of the mobile phone market. Turnover came in at £9.7 billion.

Mr James also gave an update of the retailer's plans to expand into the US, saying that about 150 new stores will be rolled out in the country through a joint venture deal with US telecoms group Sprint. The firm plans to eventually open 500 in the US.

The retailer, which also operates in Scandinavia and southern Europe, was born out of a £5 billion mega-merger between Dixons and Carphone Warehouse in 2014.

Press Association

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