It has been announced that Dixons Carphone saw a rise of 17% in its full year profits as its market share hits a record high in nearly all of its markets.
Figures show that to 30th April, group like-for-like revenue increased 5% including a 6% rise in the UK and Ireland as well as a 4% increase in its Nordics business.
Headline pre-tax profit stood at £447 million in comparison to £381 million the previous year, statutory profit was £161 million compared to £97 million after non-headline charges of £176 million which included a loss from discontinued operations of £18 million.
Group chief executive at Dixons Carphone, Seb James, said: "I am very pleased to be announcing another year of significant earnings growth, with profits before tax up more than 17%.
“In this momentous year we have largely completed our merger activities, driven customer satisfaction and market share to all-time highs in virtually all of our markets, made our shops more interactive and exciting while becoming ever more competitive with pure-play retailers, launched a new joint venture in the US, launched a new UK mobile network, and embarked on an ambitious property plan in the UK and Ireland. We also had our biggest ever trading day on Black Friday last year.”
UK & Ireland revenue rose 1% to £6.4 billion and the like-for-like sales in these areas was a reflection of mobile phone market share gains as well as good growth in electricals, whereas like-for-like revenue growth in the Nordics was due to mobile and laptops, white goods to counterbalance a weakness in PCs and tablets.
With regard to Dixons Carphone Southern Europe business, it had solid underlying results with like-for-like revenue increasing 4%, mainly driven by Greece with a sturdy growth in tablets and white goods.
Future plans for the company include converting the remaining Dixons stores into the new 3-in-1 format, introducing same-day delivery, an interactive new e-commerce platform for Carphone Warehouse, opening a new distribution centre in Sweden as well as opening 150 new stores in the US with Sprint.
Mr James added: “Finally, 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."
