Dixons Carphone reveals 21% surge in profits following merger

Electricals and mobile phones giant Dixons Carphone hailed a “terrific year” as it revealed a 21% surge in profits in its first set of annual results since being created following a merger between two of the high street’s biggest names.

Dixons Carphone reveals 21% surge in profits following merger

Electricals and mobile phones giant Dixons Carphone hailed a “terrific year” as it revealed a 21% surge in profits in its first set of annual results since being created following a merger between two of the high street’s biggest names.

The group behind Carphone Warehouse and Currys PC World said underlying pre-tax profits leapt to £381m in the 13 months to May 2 after robust trading for both its electricals and mobile business.

Dixons Carphone said UK and Ireland like-for-like sales rose 8% over the year helped by its “most competitive ever” pricing on electricals, while its mobile business was also given a boost by the demise of rival Phones 4U.

Sebastian James, group chief executive, said: “This has been a terrific first year for Dixons Carphone.

“We have seen excellent increases in both sales and profitability and we have made very encouraging progress with the tricky job of integrating these two great companies.”

But he added the job was “far from done”.

“I am acutely aware that there is no room for complacency in a sector which has seen unprecedented change, bringing both opportunities and challenges,” he said.

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