LONDON, June 20 Dixons Retail, Europe's
No. 2 electricals retailer, posted a 15 percent rise in
underlying year profit, with sales growth in Britain and
northern Europe offsetting falls in the austerity-hit south and
at its PIXmania internet arm.
The group, home to the Currys and PC World chains in
Britain, Elkjop in Nordic countries, UniEuro in Italy and
Kotsovolos in Greece, said on Thursday it made an underlying
pretax profit of 94.5 million pounds ($148 million) in the year
to April 30.
That compares to company guidance of about 93 million pounds
and 82.1 million pounds made in the 2011-12 year.
Underlying sales increased 4 percent to 8.21 billion pounds,
though gross margin fell 0.7 percentage points, reflecting a
higher proportion of sales with lower margins, as well as price
Dixons booked restructuring and impairment charges of 168.8
million pounds, relating mainly to PIXmania and the main
non-store UK B2B operations following the disposal of Equanet.
Taking these into account the firm made a pretax loss of
115.3 million pounds versus a loss of 118.8 million pounds last