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09/01/2002
Dixons hit by mobile phone and PC sales drop
Profits at the Dixons Group have been hit by the decline in sales of mobile phones and personal computers (PCs), according to the company’s interim results for the 28 weeks ended November 10, 2001.
The Dixons Group, which operates PC World, The Link and Currys, results come against a backdrop of customer spending in the UK.
Sir Stanley Kalms, Chairman of the Dixons Group, said: “The Group produced another solid set of results despite decline in both the mobile phone and PC markets. Our expansion plans are progressing well in the UK and Continental Europe and the PC City format has made an encouraging entry into new markets. Whilst there remains short-term economic uncertainty, new technology is expected to be one of the strongest areas of consumer expenditure and the Group’s strong market and financial position ideally places it to take advantage of these opportunities. We continue to look forward to another year of progress.”
PC and mobile phone sales account for approximately 40 per cent of Dixon’s total sales and even more of their profits.
During the reporting period, PC sales fell by 17 per cent overall, but PC World’s sales rose by five per cent.
The Link’s mobile phone sales dropped by nine per cent.
Dixon’s sales rose 2.3 per cent to £2.22 billion, but pre-tax profit fell to £87.4 million from £90.8 million the previous year.
The performance in the eight weeks ended January 5, 2002 was in line with the Group’s expectations. Group retail sales increased in total by four per cent, although like for like sales were 0.6 per cent lower. Gross margins were in line with last year.
Dixon’s also aims to create 1,400 new jobs this year as they are going ahead with expansion plans that they made last year. (CD)
The Dixons Group, which operates PC World, The Link and Currys, results come against a backdrop of customer spending in the UK.
Sir Stanley Kalms, Chairman of the Dixons Group, said: “The Group produced another solid set of results despite decline in both the mobile phone and PC markets. Our expansion plans are progressing well in the UK and Continental Europe and the PC City format has made an encouraging entry into new markets. Whilst there remains short-term economic uncertainty, new technology is expected to be one of the strongest areas of consumer expenditure and the Group’s strong market and financial position ideally places it to take advantage of these opportunities. We continue to look forward to another year of progress.”
PC and mobile phone sales account for approximately 40 per cent of Dixon’s total sales and even more of their profits.
During the reporting period, PC sales fell by 17 per cent overall, but PC World’s sales rose by five per cent.
The Link’s mobile phone sales dropped by nine per cent.
Dixon’s sales rose 2.3 per cent to £2.22 billion, but pre-tax profit fell to £87.4 million from £90.8 million the previous year.
The performance in the eight weeks ended January 5, 2002 was in line with the Group’s expectations. Group retail sales increased in total by four per cent, although like for like sales were 0.6 per cent lower. Gross margins were in line with last year.
Dixon’s also aims to create 1,400 new jobs this year as they are going ahead with expansion plans that they made last year. (CD)
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