Currys and PC World-owner Electricals group DSGi has posted a 6% rise in like-for-like sales in its second half and secured a new revolving credit facility.
The sales rise brings the full year like-for-like advance to 2% and was powered by DSGi’s Scandinavian arm, which notched up a 16% like-for-like increase in the second half.
DSGi’s UK electricals division reported a 6% like-for-like increase in the second half and a 1% decline over the year.
UK Computing was down 5% like-for-like in the half and fell 9% over the year.
DSGi chief executive John Browett expects full-year profits to be in line with expectations of between £80m and £90m.
He said: “Customers continue to respond well to our unwavering focus on value, choice and service.
“We are focused on moving all our businesses forward against a challenging backdrop, delivering a good sales uplift and margin performance.”
He was cautions about prospects for the rest of the year, but said there is a strong product line-up for the World Cup which would bring opportunities.
Browett is in the midst of his renewal and transformation plan at DSGi. New formats developed as part of the initiative, such as megastores and two-in-one Currys and PC World shops are “delivering consistent gross profit uplifts”.
DSGi said it has signed a new £360m revolving credit facility which “provides significant flexibility”.
No comments yet