Dixons Carphone Reports Strong First Year

Dixons Carphone reported a strong performance in its first year of trading since Dixons Retail merged with Carphone Warehouse (CPW). Group like-for-like revenue was up 6% for the year and 9% in the final quarter and the company said it made further market share gains across electricals and mobile in its main European territories.

In the UK & Ireland, Q4 like-for-like revenue growth was 13%. The CPW stores-within-a-store continue to perform well and there are now 233 open within CurrysPCWorld stores, of which 95 are full CPW executions.

In the Nordics, the group gained market share in all key markets. However, as expected, Q4 like-for-like revenue growth was slower than previous quarters due to the impact of the weaker oil price on the Norwegian economy and its currency, as well as a softer consumer backdrop in Finland.

Q4 like-for-like revenue growth of 8% in Southern Europe reflected a significant improvement on the Christmas quarter, driven by a strong like-for-like performance in Greece, despite the political and economic backdrop. The company said that the market in Spain remains tough but its stores have seen improved trading quarter on quarter.