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Underlying pretax profit increases 76% at Dixons Retail StockMarketWire.com Electrical retailer Dixons Retail said group underlying profit before tax for the year to end-April increased by 76% to £166.2m versus £94.5m reported in the previous year and up 10% on a restated basis. - Further strong progress in the UK & Ireland with underlying operating profits up 24% - Elkjøp delivered another strong year with record sales - Greece delivered an improved performance with some signs of stability returning to the market · Another successful year for the Group, delivering on its key objectives: - Firm establishment of a sustainable business in a multi-channel world - Disposals of all non-core operations, leaving the Group with leading positions in all our core markets · Proposed merger with Carphone Warehouse announced to develop a leading position across electricals, mobiles and connectivity. - European Commission has confirmed that it has unconditionally cleared the proposed merger · Group online sales increased by 16% to £1 billion. · Customer service metrics at their highest ever recorded levels in all markets. · Return on capital employed of 16.3%, up from 14.9% in the prior year. · Group costs reduced by a further £45 million completing the two year £90 million cost reduction initiative. · Very strong cash generation with the Group ending the year with net cash increasing to £70.9 million. Financial highlights · Total underlying Group sales up 3% at £7.22 billion (2012/13 £7.03 billion). · Group gross margins down 0.2% in the full year, with an improvement in the second half. · Total profit before tax after non-underlying items increased by 53% to £132.9 million (2012/13 profit of £86.6 million). · Post tax non-underlying charges of £186.0 million, relating mainly to disposals of non-core operations. · Underlying diluted earnings per share 3.0 pence (2012/13 earnings of 2.6 pence). Basic loss per share including discontinued operations of (1.9) pence (2012/13 loss per share of (4.5) pence). Sebastian James, Group CEO, commented: "This has been a great year for the Group with some excellent performances across our multi-channel businesses, together with the achievement of a number of important strategic objectives. Our profits are up 76% from those we reported a year ago. This not only reflects the fact we have now exited all of our non-core markets, meaning we are now a leader in all our core markets, but is also a testament to the creativity and hard work of our teams. The Group is in robust financial health with further cash generation resulting in a strong net cash position even after the costs incurred in exiting the non-core businesses. Best of all, our customer service metrics have again reached new records. All of this all means that the
(Reuters) - The European Commission has unconditionally approved the 3.8 billion pound ($6.4 billion) merger of Britain's Carphone Warehouse (CPW.L) and Dixons Retail (DXNS.L), Carphone Warehouse said on Wednesday. Carphone, Europe's biggest independent mobile phone retailer, and Dixons, Europe's second-largest electrical retailer, announced their intention to merge on May 15. "Earlier today, the European Commission confirmed that it has unconditionally cleared the merger," Carphone said in a statement. The merger will create a group with turnover of about 12 billion pounds, 2,900 stores and 45,000 employees. $1 = 0.5892 British Pounds) http://uk.reuters.com/article/2014/06/25/uk-carphone-warehse-dixons-retail-merger-idUKKBN0F01UO20140625
Who knows, I am in the Share because I believe it will go up, the problem is I dont know when.
All positive reading. Don’t know if you saw this last week: Dixons Retail PLC (LON:DXNS) has earned an average rating of “Buy” from the nineteen analysts that are presently covering the stock, StockRatingsNetwork.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating on the company. Several analysts have recently commented on the stock . Analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of Dixons Retail PLC in a research note on Tuesday. They now have a GBX 56 ($0.95) price target on the stock. (Reuters) - Britain's Carphone Warehouse (CPW.L) and Dixons Retail (DXNS.L) will secure unconditional European Union antitrust approval for their 3.8-billion-pound ($6.38 billion) merger, two people familiar with the matter said on Tuesday. http://www.reuters.com/article/2014/06/17/us-dixons-retail-carphone-warehse-eu-idUSKBN0ES1FW20140617
Agree John Lewis is the main rival, although they only have 42 stores. Argus/Amazon different competition as you cannot get advice or see the product in the same way, although many on here are technology competent, a large percentage of the population still are not. My Dad was very impressed by the service and time he was given in one of our stores when buying a tablet. Pleased to hear it looks like the merger will go through with no strings. Positive news. (so will the SP go up or down?) views?
Real competition: John Lewis Moderate Competition: Argos, Amazon, AO Long term I think the market could become crowded but there is growth in this company for the next few years with the merger and return to profitability. SP should be on way to a £1. I am not sure if I will stay in for a very long time, already been in since 21p. Anywhere near a £1 and I will bank on less competitive market.
EU to approve Carphone, Dixons merger - report Tuesday 24 June 2014 | 17:35 CET | News Share on twitter Share on facebook Share on linkedin Share on google_plusone_share More Sharing Services1 The EU is set to give unconditional anti-trust approval for the proposed merger of Carphone Warehouse and Dixons Retail, reports Reuters citing two unnamed sources familiar with the matter. In May, the EC asked UK retailers to submit their views on whether the merger would result in higher prices for mobile phones and tablets because of the combined group's market share. One of the sources said that the EU would approve the deal without conditions.
My views for the long term: It is not going down! I am very sad to hear of peoples poor experiences, my personal experience in Devon stores and particularly Plymouth, is that staff are very keen meet and greet, are knowledgeable and helpful, arranging delivery or spend time looking for other stores that may hold an out of stock item. I have also had similar good experiences in Sussex especially Crawley recently. This was certainly not true a few years ago. I am sure that customer service is not always perfect, but my experience has been good, I feel that we are moving forward stores look good, pricing is keen and staff are in my experience helpful/knowledgeable. I think the management are working hard to keep the company profitable, customers must on the whole be satisfied or we would not be achieving the results we are (we will see in the statements) We stock a good range of ‘essential’ products like white goods, where people can come in and look, take advice and buy in a pleasant environment. We also have a good range of the latest technology and most importantly do offer knowledgeable advice for those that need it. I think the future is positive. I do not work for the company; have been a shareholder for many years and seen highs and lows in the share price. I feel that the increase in the volume of house sales will be a benefit as this is the time people do often have disposable money and statistically normally do more work on the house in the first two years of a move, potentially requiring some of our products. I along with others buy on the net, but increasingly have problems with delivery and service using the web, increasingly I am happy to even pay a little extra (if I have to) to have it done my way where I can collect or receive better service and be in control. (Often on the web they can never even leave even small items where I request and I have to spend time driving to delivery depots that can’t immediately find my product or worse collect from the Post Office!) I think the SP is undervalued. The 50p is the barrier but once exceeded and after the merger when brokers can see the companies direction and we are in the FT100 the price will rise long term. Sorry for my ramblings, sad to see the share drift, England not win a game and the good weather turn to rain (though needed I guess) Thoughts? (especially if anyone is in the know)
You’re not wrong there. I did buy an underwater camera from Dixons at Gatwick back in March. I called them and they put it aside for me. But when turning up there was no sign of said camera and they had to look for it for ages. Inked up sales assistant was also pretty clueless. Only reason I bought the camera was because I could get it tax free and of course it had good reviews. Dixons is the kind of place you go to check out items then buy cheaper elsewhere. I also prefer JL and Waitrose to any other retailer and will go out of my way to shop there. Shame they aren’t listed or I’d be filling my boots.
Where is the shopping experience in buying from a retail store for a commodity like a phone or tablet let alone an accessory anymore? Most punters are so clued up on the latest gadgets nowadays. You can buy from supermarket or off the internet, cheaper and you don't have to make a special trip to a special shop anymore. John Lewis offers something different and to be honest we buy our big electricals from them. You get the impression that they employ staff who actually care about the customer getting something which works for them. My past experiences of Dixons have always been surreal ones. I once went into Dixons to buy some hardrive leads and when I finally get the attention of the huddle of men stood around talking and laughing I first got told they didn't sell them, then when 'I' found them I nearly got sold the wrong item. Ten the lady at the till was more interested in telling the elderly couple before me about her 'issues'. I enjoyed waiting around for her to finish. Most people in the queue before me were bringing things back. Anyone not totally on the ball would have had no chance. Got out quick and went home, bought off internet. IMHO Might take couple of years but Dixons will sadly decline and then fizzle out like Comet.
I was on the tube the other day and saw an ad for what I think was a gadget, underneath it were logos of: John Lewis | Amazon | Tesco | Currys And a few more. Internet of Things is becoming real but the merger smells like a final solution kind of thing. Companies that create technology really well like Google will capitalise on it and I don't think a shop front like Dixons Carphone has much of a future as they aren't producing anything.
I agree with Puffy. In a normal world shares would rise on good results but not this one. A but like ASC that had been in a depressed state due to strong £ and then a fire at the weekend yet on Monday SP rose. Looking forwards to buying on Thursday when good news comes out and dip comes! Best thing that Seb can do for the SP onThursday is take the day off and go somewhere remote and stay away from press or take vow of silence for the day! Tape might do it! BTW. I sold all my holding in Feb at 51p. It might rise long term but I am seeing a lot of pressure from competition in the market. But good luck to all who hung in there.
Lucky me, I have a load of them as well 1
I think this is going to go the way HOME has behaved since their results: decent revenue and profit but all down to World Cup and sunny spells. Now down 15% since their results ~2 weeks ago. Money will shift to travel/leisure industry as there is now little excuse to sit at home to watch the WC.
The reason I suggested the SP would drop is because each time Dix has some good news around profit, the SP always falls. Profit @ £160m, compared to a few years ago is a great result IMO, but i'm sure the city will find a reason why the SP should not climb. And 26th, well if Seb talks to the press, then it will crash like it always does when he has something to say lol.
Probably why HOME is slowly sinking. Any uplift in DXNS revenue can be attributed to the World Cup and my bet is down from here although indicators still not looking to bad. http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/10918452/Great-British-getaway-begins-following-World-Cup-exit.html
do i sense a bit of sarcassim here or do you really believe that the SP will drop on the 26th
On Darty's juicy results?
SP bound to go down on that great news !!!!
http://www.express.co.uk/finance/city/484016/Electrical-retailer-Dixons-see-profit-growth?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+daily-express-city-business-news+(Daily+Express+::+City+%26+Business+Feed) Electrical retailer Dixons see profit growth DIXONS is expected to be buoyed ahead of its merger with Carphone Warehouse with underlying full-year profits set to leap 69 per cent to £160 million this week.
interesting times ahead
It is amazing to see DXNS and CPW tracking each other up and down.......
Thanks for the advice Do you mean the results on the Jun 26th .? These preliminary results should be good ??