The continued strength of Nordics...and the improved performance from UK & Ireland clearly show the success of the renewal & transformation plan and the growing traction of the KNOWHOW service proposition...we continue to view Dixons as a long-term winner in electricals, hence our ‘buy’ stance.
JOHN CUMMINS WH IRELAND
Dixons’ results for the year ending 28 April demonstrate a solid performance against a challenging market backdrop with underlying PBT of £70.8m compared to the guidance given in the pre close trading update of £65-70m. We leave our forecasts unchanged and maintain our ‘buy’ recommendation.
SIMON IRWIN LIBERUM
In a difficult market, the businesses in UK and Nordics are performing very well, while the execution and competitive position in each market continues to improve. This continues to be offset by Pixmania and Southern Europe and we would expect a broadly similar outcome in the year ahead.