Business World

Sunday 21 April 2019

Dixons Carphone units dial up mixed fortunes

Group sees ‘strong ‘growth’
Group sees ‘strong ‘growth’
John Mulligan

John Mulligan

Pre-tax profits at the Irish division of Currys PC World - part of the Dixons Carphone group - soared to €6.5m in its last financial year as the retailer benefited from a stronger economy and a boost from its pre-Christmas 'Black Friday' sales event.

Accounts just filed for the business show that the profit in the 12 months to the end of April last year compared to a pre-exceptional loss of almost €1.5m the previous financial year. Revenue at Currys PC World rose to €168.3m in the last financial year, compared to €158.4m in the previous 12 months.

But the picture at the Carphone Warehouse business in Ireland was bleaker, show accounts just filed for it at the Companies Registration Office.

Revenue at the unit declined to €104.5m in the last financial year from €110.9m in the previous period. It made a pre-tax loss of €1.86m, although the figure was better than the €3.5m loss it notched up in the previous financial year, when it also had a €2.1m exceptional gain. In the financial year that ended last April, it recorded negative exceptional items totalling €3.5m.

Carphone Warehouse Ireland had accumulated losses of just under €56m at the end of April last year. Currys PC World had accumulated losses of €18.8m, according to its accounts.

"These results show that the sustained remodelling of the business and disciplined approach continues to improve profitability and create a successful Irish-managed business," said Dixons Carphone Ireland in a statement.

The Irish arm's managing director is Mark Delaney.

The group added that it has continued to see "strong growth" in the current financial year that ends next month.

Irish Independent

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