Dixons hails rebound in UK profit
Dixons Retail Group, which has outperformed struggling rivals such as Comet and Argos in recent months, said underlying operating profits across UK & Ireland rose to £78.8m in the year to April 28.
It confirmed that the division’s sales turnaround in the final quarter - up eight per cent amid a full year decline of four per cent - had continued into the new financial year.
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Hide AdThe robust UK & Ireland performance helped limit the impact of the eurozone crisis on its southern European arm, with wider group underlying pre-tax profits down 17 per cent to £70.8m.
But Dixons signalled more store closures that will reduce the current 557-strong estate in the UK to between 400 and 420 outlets, compared with expectations last year for 450 stores.