Strong demand for tablet computers helps Dixons sales surge
Thursday 16 May 2013
Dixons' chief executive Sebastian James said he has "wind in his sails" as he reported a continuing recovery at the electrical retailer, and the City is beginning to believe the story.
The company, which also owns PC World, said profits for the year would be at the top of City forecasts, about £85m, thanks to strong demand for tablet computers in particular.
Sales in the fourth quarter are up 7 per cent overall, and up 13 per cent in the UK and Ireland, where the company particularly benefited from the demise of Comet.
It said it would like to sell Pixmania, though closure of the loss-making e-commerce business was an option.
Mr james said: "This strong year puts Dixons in the best position it has been in for many years. We have worked hard to improve the conversation that we have with our customers and to improve our shops and our prices. Above all we are enjoying the feeling of a little wind in our sails."
Analysts at Panmure Gordon described the fourth-quarter sales as "stonking" and advised clients to buy the shares up to 45p. The stock added 3.49p to 40p.
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