Currys and Comet to reveal World Cup boost

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The Independent Online

England's performance at the World Cup has been lousy so far. But two of the UK's biggest electricals chains are set to reveal a boost in sales of TVs before the tournament, along with improved full-year results, this week. DSGi, which owns Currys and PC World in the UK, is expected on Thursday to post a substantial uplift in underlying pre-tax profits to between £80m and £90m for the year to 1 May, compared with £50.5m the previous year.

A day earlier, Kesa Electricals-owned Comet will provide further evidence of a pick-up in sales of big-ticket items, such as washing machines, with forecast annual pre-tax profits of £76m, following a £81.8m loss in 2008-09.

Currys and Comet are expected to report that recent trading was boosted by fans snapping up large-screen TVs ahead of the World Cup in South Africa. But it could be a week of two halves for the chains, as their sales could be vulnerable to the widely expected rise in VAT – possibly to 20 per cent – in the emergency Budget tomorrow.