Profits jump at Carphone Warehouse and Currys PC World

Online sales helped Currys PC World overcome the impact of Covid-related closures. File picture

Strong online sales saw the owner of Carphone Warehouse and Currys PC World report a jump in profit overcoming the impact of store closures during the pandemic.

Headquartered in the UK, Dixons Carphone posted pre-tax profits of €49.8m for the six months to October 31 against losses of €95m a year earlier.

The company operates 68 Carphone Warehouse outlets and 16 Currys PC World stores in Ireland.

Shares in the group rose 10% yesterday after reporting a 17% increase in like-for-like sales of electricals, with online sales soaring 114% to €2bn.

The group said it received more than €114m in pandemic-related Government supports including furlough payments and business rates relief. This includes €4.4m related to employment cost subsidy schemes in Ireland and Nordic countries.

Several retailers, whose stores have stayed open during lockdowns, have paid back the relief, but Dixons Carphone CEO Alex Baldock indicated it would not. "We were tagged non-essential (by government) and our stores were closed which obviously puts us in a different space to some," he told reporters.

Mr Baldock said it was seeing some supply delays due to current disruption at British ports but was confident it would cope when Britain's Brexit transition period with the EU ends on December 31 whether or not a trade deal is sealed.