Dixons Carphone posts record full-year profits

Dixons Carphone has announced a record annual profit of more than half a billion pounds.

The retailer, which owns Currys, PC World and Carphone Warehouse, said profits before tax in the year to April 29 were up 10 per cent to £501m.

Like-for-like sales in the UK and Ireland rose by four per cent and revenue increased by two per cent to £6.5bn. Dixons said its electricals business had delivered a solid result, with market share gains across categories including consumer electronics, white goods and computing.

Said Dixons Carphone group chief executive, Sebastian James: “Over the last few years a great deal of work has been done to make the company stronger, lower risk and more resilient. We are seeing the upside of these efforts now as we declare record headline profits before tax of over half a billion pounds – up 10 per cent.

Sebastian James
Sebastian James

“More importantly, the improvement in our cost base, the strong leadership position that we have built, the investment that we have made in our digital business and, above all, the enormous shift in customer satisfaction and price competitiveness that we have driven leave us well positioned to flourish in the years ahead.”

He added: “While the UK consumer environment seems to be holding up for us, there will undoubtedly continue to be changes in the way people buy all of the products that we sell from phones to washing machines.

“Change always represents opportunity, and our job is to find the propositions that keep us compelling to our customers forever. We are excited about our plans in services and about the myriad of initiatives that will drive long-term relationships with our customers.

“In short, it has been a good year for Dixons Carphone and it gives me great pleasure once again to thank my 43,000 colleagues for the work that they have done to deliver so well and so energetically for our customers.”