Dixons Carphone grows revenue and continues to win market share as it brushes off Brexit

Caitlin Morrison
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After completing a merger last year, Dixons Carphone is continuing to increase its market share

Mobile phone retailer Dixons Carphone is continuing to gain market share and grow revenues - and it's not feeling any ill effects from the recent Brexit vote, the company said today.

And investors were also feeling positive about the company, with shares up 3.5 per cent in early trading this morning.

In a trading update on the 13 weeks to 30 July, like-for-like group revenue increased by four per cent compared with the same period of last year.

The firm said it saw a strong performance in the UK & Ireland, with revenue up four per cent, continued growth in the Nordics region, where revenue was up two per cent, and a very good performance in southern Europe, where revenue increased by 13 per cent - driven by "strong growth" in Greece.

The group also said it had continued to make market share gains.

"We have had another very good quarter and I am happy to be reporting this level of performance today," said Dixons Carphone chief exec Seb James.

"We are delivering pleasing growth in all markets and continued high levels of customer satisfaction, and, thus far, continue to see no detectable impact of the Brexit vote on consumer behaviour in the UK."

In the aftermath of the referendum, the Dixons Carphone boss brushed off fears around the result, and said the firm expected to find opportunities for growth in spite of the "volatility that is the inevitable consequence of such change", sentiments he repeated today.

James added: "Looking forward, we are optimistic about the future and about our ability to continue to outperform, without in any way being complacent. We live in a world with increasingly discerning customers and with more moving parts than ever and we will continue to succeed only by remaining nimble and determined."

Earlier this year, Dixons Carphone snapped up broadband and TV price comparison site Simplifydigital, after starting 2016 by closing 134 stores as part of the terms of the Dixons and Carphone Warehouse merger.

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