Dixons Carphone Posts 30% Pre-Tax Profit Rise

Dixons Carphone has released its results for the first half of the year and the first since the merger of the two companies was completed in the summer (Display Monitor Vol 21 No 32). The company said that pre-tax profit rose 30% year on year to £78 million ($122.4 million). Profits are compared with Carphone Warehouse’s 26 week period ending September 2013 and Dixons Retail’s six month period ending October 2013.
However, after one-off costs, including writing down the value of assets in Germany and the Netherlands, the company recorded a net loss for the period of £20 million ($31.4 million). Like for like sales in the first half of the year were 5% higher and the group said it made market share gains across its electrical and mobile businesses in the UK & Ireland, Nordics and Greece. Like-for-like sales in the UK & Ireland grew 6% in the first half and 11% in Q2.