DSG reports profits fall

Currys and Dixons owner DSG International said today it was in a better shape than a year ago, despite posting a sharp fall in annual profits.

Bottom-line profits of €169m for the year to April 28 compared with €438m a year earlier, reflecting the lower value of its under-performing Italian arm and the closure of PC City stores in France.

Profits at an underlying level were down to €438m from €460m, even though Currys performed well with a like-for-like sales rise of 3%.