Dixons predicts year profits at top end of forecasts

 
Suzie Neuwirth

ELECTRICAL retailer Dixons today announced that full-year profits are expected to be at the top end of forecasts, with sales boosted by the demise of competitors in the UK market.

The company said that sales were up seven per cent for the full year and that sales rose 13 per cent in the UK and Ireland in the fourth quarter, with Dixons benefitting from the closure of rivals such as Comet.

Full year underlying pre-tax profits are expected to be between £75m to £85m, the company said.

“This strong year puts Dixons in the best position it has been in for many years,” said chief executive Sebastian James.

“I believe that we have a clear business model that allows us to flourish in an internet world. I am very pleased to see us gaining share in nearly all of our multi-channel businesses across Europe.”