Dixons hit by Italian weakness

Currys owner DSG International took the gloss off an encouraging trading performance in the UK today when it revealed sales had dived in Italy.

In light of a 10% decline in like-for-like sales at UniEuro in Italy, DSG said profits for the first half of its financial year were likely to be similar to a year ago. One analyst had been looking for a 20% improvement.

DSG chief executive John Clare said the UK posted a pleasing performance, with the core Currys electricals brand achieving a 5% rise in same-store sales.

He added that it appeared “certain” that products such as high definition television, i-Pods, laptops and MP3 players would be popular this Christmas.

DSG shares were down 6% following the trading update today.