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Dixons lands new lending facility

Fri, 25th May 2012 13:47

Dixons, the troubled technology retailer, has pleased its investors after landing a significant new lending facility, replacing the current deal which was due to expire next year.

The new £300m facility does not mature until mid-2015.

Just two weeks ago the company turned in a slightly better-than-anticipated performance during the year ended April 28th, despite like-for-like (LFL) sales falling three per cent year-on-year.

Full-year group underlying profit before tax is expected to be between £65m and £70m, which is towards the top end of expectations.

The share price jumped on the day's news, up 3.44% to 14.74p by 13:52, having risen as much as 7.0% earlier in the day.

NR

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