Dixons profits surge ahead of Carphone Warehouse merger

 
Guy Bentley
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(Source: Getty)

Dixons Retail, the owner of Currys and PC World, has reported a jump in profit before tax of 76 per cent to £166.2m for the financial year ended 30 April.

Online sales were a particularly bright spot, rising by 16 per cent to £1bn, while customer service metrics reached their highest recorded levels in all markets.

Progress was strong in the UK, and Greece managed to deliver an improved performance thanks to the return of some stability to the market.

TV sales received a boost from the World Cup, with the FTSE 250 company saying this could be the "early glimmers of a consumer recovery".

The news follows the announcement yesterday from Carphone Warehouse that the European Commission has unconditionally cleared a £3.7bn merger between the company and Dixons.

The merger is anticipated to deliver cost savings of at least £80m on a recurring basis.

Sebastian James, the group's chief executive, 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.