Business

Dixons Carphone sees year-on-year revenues fall

Currys, PC World and Carphone Warehouse signs Image copyright PA
Image caption The new group began trading as Dixons Carphone on 7 August

Dixons Carphone, the newly-merged electrical goods and mobile retailer, says it has made "a good start" in a first quarter trading statement.

Dixons Retail, the owner of Currys PC World, reported a 1% fall in year-on-year revenues, while Carphone Warehouse's revenues fell 17%.

Dixons Retail formally merged with the mobile phone retailer on 7 August, in a deal worth £3.8bn.

The new group will join the FTSE 100 on 22 September.

Sebastian James, group chief executive, said: "I am pleased to report a good start to the year and to our new shared enterprise.

"Dixons Carphone looks to be in excellent shape to tackle the perpetually shifting sands of the market and to achieve its goal of improving our customers' lives through technology."

Dixons Retail saw like-for-likes sales rise 4% in the UK and Ireland, 1% in Nordic countries, and 6% in Greece.

Sales were boosted by the football World Cup, the company said.

Carphone's like-for-like sales fell 6%, due in part to difficult trading conditions in Southern Europe.

"There is no doubt that the Spanish and Portuguese markets remain quite tough for our mobile businesses," said Mr James.

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