MATTHEW MCEACHRAN | SINGER
They have retained their guidance for £85m profits before tax for the full year. This should come as a relief. They remain cautious on the outlook, though, especially given tough comparatives from World Cup and iPad exclusivity. High net debt, and a pension deficit, means the rating looks too high.
NICK BUBB | ARDEN
We expected that a weak April in the UK would have knocked the year to April adjusted profit before tax outcome for Dixons a bit below the £85m that was indicated at the time of the last profit warning at the end of March, but the news is reassuring.
JONATHAN PRITCHARD | ORIEL
Having released a major profits warning just a month ago, it is difficult to get carried away with a statement that is no worse than expected after just four weeks. This remains a gloomy situation we remain concerned about Dixons' ability to trade out of its current difficulties.