Dixons Carphone share price: Company updates on recent trading
Dixons Carphone (LON:DC) has this morning updated investors on its recent trading.
**Highlights from the company statement:**
• Group pro forma Headline PBT expected to be slightly above the top end of previously guided range of £355m to £375m
• Group Q4 like-for-like revenue up 9%, full year up 6%; • Further market share gains across electricals and mobile in the UK & Ireland, Nordics and Greece; • Group gross margins were stable in the full year; • Strong balance sheet with year-end net debt expected to be ahead of guidance of £300m;
• Disposal of non-core operations in Germany and The Netherlands
Sebastian James, Group Chief Executive, said:
“Nearly a year into our merger, I am very pleased to be posting such a strong first full year trading statement for our combined Dixons Carphone Group. Good trading, driven by market share gain and by strong promotional periods – including Easter – coupled with successfully streamlining the Group’s international assets, means that we are now guiding PBT to be slightly above the top end of our previously disclosed range for the full year.
On the integration, our teams should be very proud of the progress that we have made. A very committed group of people has achieved this; it has required not just hard work, but also pragmatism – and a willingness to roll up sleeves and get stuck in. By the autumn, in the UK, Ireland and Sweden, we will have moved our head offices, begun moving our logistics and our repair centres, built integrated management teams and opened almost 280 new mobile stores. This is tricky to achieve – to say the least – and I would like to record my thanks to the teams for making it look so comparatively easy.
It is a truism that the time to fix the roof is when the sun is shining, and we will pursue continued investment in the business this year to do just that. We are making excellent progress but there is still much to do, and many areas of the business that we want to improve further. Delivery options, IT investment, extending our free warranty programme, further training for our colleagues, Norwegian pricing and others are in our sights to make us stronger in the long term.
Also, I am really pleased that we have launched our new mobile virtual network operator, iD. So far it is doing everything that we hoped it would, and some of the features we plan for the summer are genuinely unique. Finally, in the CWS business, the management has worked hard to build on our already strong pipeline, which is now looking quite exciting and which I look forward to talking more about in due course.”
**More to follow…**
As of 07:05 BST, Wednesday, 03 June, Dixons Carphone PLC share price is 479.30p.