- Pre-tax profits jump 23% to £121m
- Group like-for-likes up 5%
- White good sales offset falling demand for tablets and PCs
- Former BT boss Lord Livingston of Parkhead appointed deputy chairman
Dixons Carphone has reported a rise in first-half group like-for-likes as white goods sales offset falling demand for tablets and PCs.
The retailer said today that group like-for-likes increased 5% in the 26 weeks to October 31, while in the UK like-for-likes rose 7%.
Headline group pre-tax profits jumped 23% to £121m. Statutory pre-tax profits from continuing operations rose from £71m to £78m.
Dixons Carphone reported “notable growth” in sales of white goods, while demand for tablets and PCs slipped. It said television sales “held up” despite a tough comparable against last year’s World Cup.
In its mobile phone business, volumes and market share grew, but no more detail was offered.
Last month, the retailer revealed it had its biggest trading ever on Black Friday.
Market share gains
Chief executive Seb James branded it a “very good first half” but said there is “lots left to play for”.
“Against a broadly flat market overall and a very strong comparative period we have seen continued like-for-like growth driven by market share gains across all territories,” he added.
In its Nordics business, like-for-likes rose 1%. Earnings in the region rose to £38m from £30m, despite currency headwinds. However it said margins had been hit as it “sharpened” prices.
“We are now ready to settle into a normal married life and to think about our business as a single entity”
Seb James, Dixons Carphone
Meanwhile, James said the “vast majority” of “difficult decisions had been made following the merger last year of Dixons and Carphone Warehouse. “We are now ready to settle into a normal married life and to think about our business as a single Dixons Carphone entity,” he said.
The retailer also announced it has appointed former BT boss Lord Livingston as deputy chairman. Livingston is a Dixons stalwart, having served as chief financial officer during a decade-long spell with the company.
Former chief executive of Asda/Walmart UK Tony DeNunzio has also been appointed as a senior independent director.
Roger Taylor and John Gildersleeve will step down from their roles after 17 and 15 years respectively.