DSG: Currys owner gets a lift from TV and computer sales

CURRYS and PC World owner DSG International had better-than-expected festive sales figures after strong demand for TVs and laptops.

Sales surged by eight per cent in the 12 weeks to 9 January.

Analysts had only predicted a rise of between two and three per cent.

Chief executive John Browett said: “Looking forward, we expect 2010 to be tough across Europe and notably in the UK given the economic environment.

“Customer response to Christmas and the Sale has been even better than we expected with strong demand across all categories.”

Shares in DSG have more than doubled over the last year, outperforming a 41 per cent rise in the general retailers index. They closed 6.6 per cent lower at 35.1p last night as investors took profits.

DSG, which also runs UniEuro in Italy and Elkjop in Nordic countries, said gross margins were down 0.8 per cent, reflecting a strategy to drive sales through the peak trading period. The firm is undertaking an 18-month cost-cutting plan.