Losses at Irish arm of Dixons up 19%

Pre-tax losses at the Irish arm of the electrical goods retailer, Dixons, increased by 19% to €3.15m, last year.

Losses at Irish arm of Dixons up 19%

This followed revenues at DSG Retail Ltd declining marginally from €152.38m to €150.5m in the 12 months to the end of April last.

According to the directors’ report “the results reflect the continued difficult economic environment in which the company continues to trade in”.

PC World and Currys also operate under the DSG banner in Ireland and the directors state that revenues decreasing slightly by 1% reflected a “strong performance in a very competitive and declining market”.

The directors state that “post-tax losses worsened by €1m from €2.6m to €3.6m, inclusive of a write-off of a deferred tax asset”.

They further state that, in order to deliver an improvement in trading results, the directors continue to manage the cost base of the company and review regularly opportunities to drive efficiencies and savings.

The report adds: “The economic climate and competitive environment in Ireland remains challenging and the directors are continually driving measures to maximise shareholder value and shareholder’s funds.”

The numbers employed by the company last year decreased from 663 to 647, with staff costs reducing from €15.98m to €15.6m.

Emoluments for directors reduced from €285,000 to €242,000.

The firm specialises in the retail sale of high-tech consumer electronics, personal computers, domestic appliances, photographic equipment, communications products and related services.

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