But sales up at Currys and Dixons
DSG International has unveiled pre-tax profits of£302 million, a drop of 9 per cent on last year. Overall group like-for-like sales were flat.

In the UK and Ireland, like-for-like sales at Currys and Dixons stores rose by 3 per cent for the year to April 29.

Trading in the second half was particularly strong, with the World Cup driving sales of flat-screen televisions. New technology, such as MP3s and satellite navigation equipment, also performed well.

However, group chief executive John Clare said: 'Despite the encouraging performance in the second half, we remain cautious on the prospects for consumer confidence.'

Clare said he is confident the company would continue to increase its market share.

The electricals retailer also confirmed that it is to sell The Link to O2. The mobile phone network operator will buy the group's 60 per cent stake in the chain for£30 million. O2 is owned by Spanish telecoms giant Telefonica.

The international business recorded operating profit increases of 20 per cent.

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