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27/06/2002
Dixons profit boost despite share fall
UK electronic retailer Dixons has reported a rise in profits, despite a fall in mobile phone and PC sales.
As the owner of PC World, electrical appliance chain Currys and The Link mobile phone shop, the company saw pre-tax profits rise 7% to £297.2m in the year to the end of April.
Many within the company had feared that profits might be hit by rising interest rates and a slowdown in consumer spending. Industry observers had speculated that the share value of the company could suffer correspondingly.
However, while shares have fallen 20% in the past three months, strong demand for home appliances at Curry's helped the company's profits, as did PC World's growing market share. The PC store also managed to grow market share, even at a time when the market fell by 21%.
The strong performance by Curry's and PC World helped offset falling mobile phone sales which fell 33% on the previous year.
(MB)
As the owner of PC World, electrical appliance chain Currys and The Link mobile phone shop, the company saw pre-tax profits rise 7% to £297.2m in the year to the end of April.
Many within the company had feared that profits might be hit by rising interest rates and a slowdown in consumer spending. Industry observers had speculated that the share value of the company could suffer correspondingly.
However, while shares have fallen 20% in the past three months, strong demand for home appliances at Curry's helped the company's profits, as did PC World's growing market share. The PC store also managed to grow market share, even at a time when the market fell by 21%.
The strong performance by Curry's and PC World helped offset falling mobile phone sales which fell 33% on the previous year.
(MB)
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
