Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksDC..L Share News (DC.)

  • There is currently no data for DC.

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Dixons Carphone to repay furlough money as online sales soar

Wed, 28th Apr 2021 07:33

(Sharecast News) - British retailer Dixons Carphone said it was repaying £73m in government furlough money after online sales of electrical goods more than doubled in the year to April 25 offsetting the impact of store closures during the Covid lockdowns.
The company also announced it was closing its travel business after the government's decision to axe duty-free shopping from January 1. Airport outlets historically generated annual profits of £20m, but Dixons said it did not expect passenger numbers to recover sufficiently to compensate for the policy change.

Britain's Treasury said the decision brought personal duty and tax systems in line with international standards, but now means the UK as the only country in Europe that does not have a tax-free shopping scheme for international visitors.

Dixons on Wednesday said it expected full-year adjusted pre-tax profit to be broadly in line with consensus forecast of £151m after repaying the government cash. Online growth continued in all markets with group electricals online sales rising to more than £4.5bn for the year and 12% in the 25 weeks to April 24.

The company, which also owns Currys PC World, shuttered most of its stores in the UK and Ireland during the lockdowns with tighter curbs on trading in the Nordic region. Non-essential retail stores in England and Wales reopened on April 12.

Medium-term guidance was retained, with the group on track to deliver its cumulative free cash flow target of more than £1bn over 2019/20 to 2023/24.

In 2021/22 the group expects to end the year in a net cash position with capital expenditure of around £190m and exceptional cash costs of around £130m including the duty-free store closures.

More News
8 Sep 2021 16:09

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
20 Aug 2021 10:40

JD Sports among worst online retailers for customer service: Which?

JD Sports among worst online retailers for customer service: Which?

Read more
12 Aug 2021 16:04

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
23 Jul 2021 13:15

DIRECTOR DEALINGS: Renalytix CFO Sterling sells USD350,000 in shares

DIRECTOR DEALINGS: Renalytix CFO Sterling sells USD350,000 in shares

Read more
21 Jul 2021 16:38

DIRECTOR DEALINGS: Ocado chair buys; Predator project director sells

DIRECTOR DEALINGS: Ocado chair buys; Predator project director sells

Read more
8 Jul 2021 15:20

EXECUTIVE CHANGES: Quixant hires from XP Power; Impax taps former MP

EXECUTIVE CHANGES: Quixant hires from XP Power; Impax taps former MP

Read more
5 Jul 2021 09:37

BROKER RATINGS: Deutsche Bank lifts Flutter to Buy; Goldman cuts IMI

BROKER RATINGS: Deutsche Bank lifts Flutter to Buy; Goldman cuts IMI

Read more
1 Jul 2021 13:45

Thursday broker round-up

(Sharecast News) - Ascential: Berenberg upgrades to buy with a target price of 485p.

Read more
30 Jun 2021 17:05

LONDON MARKET CLOSE: Lower finish fails to dent FTSE's strong quarter

LONDON MARKET CLOSE: Lower finish fails to dent FTSE's strong quarter

Read more
30 Jun 2021 12:17

LONDON MARKET MIDDAY: Stocks slide ahead of US ADP jobs report

LONDON MARKET MIDDAY: Stocks slide ahead of US ADP jobs report

Read more
30 Jun 2021 09:55

TOP NEWS: Dixons Carphone resumes dividends after online sales jump

TOP NEWS: Dixons Carphone resumes dividends after online sales jump

Read more
30 Jun 2021 08:21

LONDON BRIEFING: Dixons beats pandemic with omnichannel strategy

LONDON BRIEFING: Dixons beats pandemic with omnichannel strategy

Read more
30 Jun 2021 07:58

LONDON MARKET PRE-OPEN: Dividend contrast from Dixons and Stagecoach

LONDON MARKET PRE-OPEN: Dividend contrast from Dixons and Stagecoach

Read more
30 Jun 2021 07:01

Dixons Carphone returns to profit, resumes dividend as online sales soar

(Sharecast News) - Dixons Carphone reinstated its dividend as it swung back to profit on the back of a massive boost in online electrical goods sales during Covid lockdowns.

Read more
23 Jun 2021 16:06

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.