REGISTER: Hear how PetroTal (PTAL) is increasing oil & gas production in Peru. Find out more at the focusIR Feb Investor Webinar. Sign up here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here
SEEEN plc CEO, Adrian Hargrave, discusses operational & trading highlights & outlook for 2025
SEEEN plc CEO, Adrian Hargrave, discusses operational & trading highlights & outlook for 2025View Video
Majestic Corporation: An Introduction to Urban Mining and Critical Mineral Recycling
Majestic Corporation: An Introduction to Urban Mining and Critical Mineral RecyclingView Video

Latest Share Chat

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

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: Dixons Carphone Sales Rise, Ponders Minority Nordics Listing

Thu, 10th Sep 2020 10:09

(Alliance News) - Dixons Carphone PLC on Thursday said sales were up in all markets and it had a strong online performance.

The technology products retailer added that it is considering listing a minority stake of its Nordics business.

Shares in Dixons Carphone were up 4.9% at 85.95 pence in London in morning trading.

UK & Ireland Electricals revenue was up 12% on a like-for-like basis in the 16 weeks ended August 29, with online sales three times higher year-on-year while stores were closed and have continued at more than twice the prior year's sales since stores reopened.

Within UK & Ireland Electricals, online market share gains have been made every month with overall share gains since stores reopened.

Dixons Travel store sales fell by around 90%, with stores still mostly closed, impacting UK & Ireland Electricals like-for-like and total sales by around 5%.

The loss of higher margin Travel sales, as well as strong online sales, have lowered UK & Ireland Electricals gross margin in the 16 week period.

UK & Ireland Mobile total revenue was down 56%, with sales and cashflow in line with plans following closures of UK standalone stores.

International like-for-like revenue was up 16%, including 17% Nordics growth ad 12% growth in Greece. Nordic online sales were up 49% and were more than 100% higher in Greece.

The company is exploring a listing for a minority stake in its Nordics business, which has performed well in the last 10 years and has experienced market share and profit growth through Covid-19. It is the market leader in all countries were it operates.

The firm, which owns the Currys PC World chain of stores, is in a net cash position, a "substantial improvement" over the same period the year before, and has access to more than GBP1.3 billion of available committed debt facilities.

Chief Executive Alex Baldock said: "We've started the year well, but nobody knows what the future holds and, like many, we remain cautious in our outlook.

"We're also in the early stages of exploring the option of listing a minority stake of our Nordics business next year. This would shine a light on the value of the Nordics business whilst retaining it as part of the group."

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
17 Dec 2020 09:48

UK BROKER RATINGS SUMMARY: BofA Rates Rotork Buy, Weir Underperform

UK BROKER RATINGS SUMMARY: BofA Rates Rotork Buy, Weir Underperform

Read more
16 Dec 2020 17:01

LONDON MARKET CLOSE: Stocks Buoyed By US Stimulus And Brexit Hopes

LONDON MARKET CLOSE: Stocks Buoyed By US Stimulus And Brexit Hopes

Read more
16 Dec 2020 14:02

Liberum lifts Dixons Carphone price target after results

(Sharecast News) - Liberum lifted its price target on Dixons Carphone on Wednesday to 175p from 150p following the company's first-half results, reiterating its 'buy' rating.

Read more
16 Dec 2020 11:59

LONDON MARKET MIDDAY: Brexit And US Stimulus Optimism Drive Rally

LONDON MARKET MIDDAY: Brexit And US Stimulus Optimism Drive Rally

Read more
16 Dec 2020 10:56

TOP NEWS: Dixons Swings To Profit As Online Makes Up For Closed Stores

TOP NEWS: Dixons Swings To Profit As Online Makes Up For Closed Stores

Read more
16 Dec 2020 10:36

UK WINNERS & LOSERS SUMMARY: Dixons Rallies Amid Swing To Profit

UK WINNERS & LOSERS SUMMARY: Dixons Rallies Amid Swing To Profit

Read more
16 Dec 2020 08:40

LONDON MARKET OPEN: Strong Start Ahead Of PMIs And US Fed Decision

LONDON MARKET OPEN: Strong Start Ahead Of PMIs And US Fed Decision

Read more
16 Dec 2020 07:42

LONDON MARKET PRE-OPEN: Online Sales Drive Dixons To Interim Profit

LONDON MARKET PRE-OPEN: Online Sales Drive Dixons To Interim Profit

Read more
9 Dec 2020 16:02

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
20 Nov 2020 17:00

LONDON MARKET CLOSE: Small Gains For FTSE As Indecision Grips Market

LONDON MARKET CLOSE: Small Gains For FTSE As Indecision Grips Market

Read more
20 Nov 2020 12:19

LONDON MARKET MIDDAY: Retailers Get Early Festive Boost From UK Data

LONDON MARKET MIDDAY: Retailers Get Early Festive Boost From UK Data

Read more
20 Nov 2020 09:35

UK BROKER RATINGS SUMMARY: Citigroup Lifts Croda To Buy From Neutral

UK BROKER RATINGS SUMMARY: Citigroup Lifts Croda To Buy From Neutral

Read more
21 Oct 2020 09:33

UK BROKER RATINGS SUMMARY: StanChart Raised; Jefferies Says Buy Metro

UK BROKER RATINGS SUMMARY: StanChart Raised; Jefferies Says Buy Metro

Read more
16 Oct 2020 10:49

UK WINNERS & LOSERS SUMMARY: Rolls-Royce Up After Boeing Jet Backed

UK WINNERS & LOSERS SUMMARY: Rolls-Royce Up After Boeing Jet Backed

Read more
16 Oct 2020 09:45

UK BROKER RATINGS SUMMARY: RBC Raises JD Sports And Dixons Carphone

UK BROKER RATINGS SUMMARY: RBC Raises JD Sports And Dixons Carphone

Read more

Free Investment Tools

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.