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.

British electricals retailer Dixons sounded a cautious note about its prospects today after sales from its UK businesses went into reverse.

Worse-than-expected economic news from across the Atlantic prompted a sell-off of London shares today.

Electricals group Dixons announced a 2% rise in Christmas sales after strong performances from its Currys and Dixons chains in the UK.