Dixons Carphone has sold its Spanish arm for €55m

Emma Haslett
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Dixons Carphone was dubbed "the last electrical specialist standing on the high street" last month. (Source: Getty)

Dixons Carphone has sold its Spanish business for €55m (£48.4m), it said today.

The company, which bills itself as Europe's leading specialist electrical and telecoms retailer, said it will sell The Phone House of Spain, as well as its Connected World Services Europe and Smarthouse divisions, to Global Dominion Access, a tech services company based in Bilbao.

The €55m is payable in two tranches, Dixons Carphone added: on completion of the deal, expected to be by the end of the second quarter, and in January 2018.

Last month the company posted record results, with like-for-like revenues rising four per cent, while pre-tax profits rose 10 per cent to £501m.

Although it sales of mobile phones were hit last year thanks to Samsung's exploding Galaxy Note 7, analysts pointed out it was in a "unique position as the last electrical specialist standing on the high street".

At the time, Seb James, the company's chief executive, said:

"Over the last few years a great deal of work has been done to make the company stronger, lower risk and more resilient.

"While the UK consumer environment seems to be holding up for us, there will undoubtedly continue to be changes in the way people buy all of the products that we sell from phones to washing machines."

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