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Dixons Retail PLC Announces Sale Of Electroworld Operations In Turkey

Thursday, 5 Sep 2013 02:00am EDT 

Dixons Retail PLC announced that it has entered into an agreement to sell the ElectroWorld operations in Turkey to Bimeks, one of the electrical specialist retailers in Turkey. Following completion, which is expected to take place by the end of this calendar year, and which remains subject to certain conditions, Dixons Retail expects to receive a cash consideration of approximately GBP2 million over two years. For the year to April 2013, the assets being disposed of generated retail operating losses of GBP9 million and losses before tax of GBP13.8 million on turnover of GBP170.7 million and gross assets of GBP42.3 million from 32 stores (including 18 franchise stores). 

Company Quote

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11 Jul 2014