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Dixons Carphone

Dixons Carphone delivers 'barnstorming' results with revenue up 5% to over £5bn since merger

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By Jennifer Faull | Deputy Editor

December 17, 2014 | 2 min read

Dixons Carphone chief executive Sebastian James has said the retailer has enjoyed a “barnstorming” six months, revealing group revenues are up five per cent to over £5bn.

It is the first set of results since the two retailers – Dixons Retail and Carphone Warehouse – merged this August.

The UK and Ireland drove a six per cent rise to £2.95bn. Underlying profit before tax up was up 30 per cent to £78m.

James said: "We have seen a barnstorming performance from our UK and Ireland division.

"This has been driven by continued improvements in price and service, competitive changes, technology launches and some recovery in the economy.”

However, he added that trading conditions were “tougher” for its smaller European business.

“We are in the midst of restructuring and reviewing these operations,” he said, adding this would see the closure of 50 stores in the Netherlands, and its retail and wholesale operations in Germany.

In Greece, it hopes to return to profitability "in the short-term".

Earlier this year at its first strategy meeting, Dixons Carphone detailed plans to service the internet of things market, which it estimates to be worth £5bn.

“[The internet of things] is an underpinning factor of why we brought Dixons and Carphone Warehouse together at the time we did. It is pretty much what all of our suppliers want to talk about," said group services director, John Hunter.

Last month James spoke of the post-merger relations saying that both he and deputy chief executive Andrew Harrison were "determined" the partnership would not become a "game of thrones".

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