Losses widen at Irish arms of PC World and Currys

Losses widened at the Irish divisions of electronics retailers PC World and Currys last year as the financial cost of the merger between its owner Dixons and rival Carphone Warehouse hit their bottom lines.

Newly-filed accounts for DSG Retail Ireland — the Irish arm of Dixons and the operator of PC World and Currys here — show that its losses increased more than five times to €24.84m in the year to the end of last April. The company’s revenues however, rose from €152.2m to €155.6m.

In the accounts DSG’s management said that “property rationalisation costs” associated with last year’s £4bn (€4.7bn) merger of Dixons and Carphone Warehouse totalled €19.9m. The annual results also reflected the challenging economic environment in which the company trades.