Good progress in second half
Electricals retail group DSG has revealed it expects full-year pre-tax profits to be between£312 million and£318 million, ahead of market forecasts.

In the UK and Ireland like-for-like sales across the Dixons and Currys brands increased 3 per cent for the year to April 29 and up 9 per cent in the second half of the financial year.

The group said it expects sales of digital products to continue to be strong over the World Cup period, but remained 'cautious about the speed of long-term recovery.'

In the Nordic markets the Elkjop chain performed well, with like-for-likes up 10 per cent.

Sales increased 20 per cent in central Europe, where the group continued its store expansion programme - entering the Polish market for the first time last year.

In southern Europe like-for-likes were up 4 per cent for the year.

At UK computer chain PC World like-for-likes were flat in the second half, but down 4 per cent over the year.

Sales at mobile phone retailer The Link were disappointing, down 21 per cent on a like-for-like basis during the second half of the year.

Group chief executive John Clare said: 'The group delivered a satisfactory trading performance over the year, given a difficult retail environment in the UK. I was particularly pleased with our trading in the second half, when good progress was made across the division.'

Last month, DSG announced that its Dixons brand in the UK is moving exclusively online, the existing 190 Dixons high street stores are being rebranded as Currys.digital.

The group will also purchase a 75 per cent share in European electricals retailer FotoVista group, for a total of Eu266 million. The group owns Pixmania, a leading European online retailer of digital photographic and consumer electronic products.