Customer and colleague focus pays off as Dixon Carphone profits leap by 17 per cent
Dixons Carphone chief executive has said the company expects to find “opportunities for additional growth” in the wake of Brexit as it announced a 17% jump in profits.
Underlying pre-tax profits in the year to 30 April rose to £447m from £381m a year earlier. Group like-for-like revenues were up 5%, with turnover at £9.7bn.
The company was formed by a merger between Carphone Warehouse and Dixons Retail in 2014. In the UK and Ireland the group trades as Carphone Warehouse, Currys and PC World.
Regarding the referendum result, chief executive Seb James said: “The nation has spoken and there has been a vote to exit the EU in due course. As you can imagine, we have been giving some thought to this.
“Our view is that, as the strongest player in our market and despite the volatility that is the inevitable consequence of such change, we expect to find opportunities for additional growth and further consolidate our position as the leader in the UK market.”
The company also has operations in Europe and trades as Elkjop and El Giganten in Nordic countries and Kotsovolos in Greece.
Mr James said they had posted record profits but it was vital the government struck a deal that ensured Britain continued to have access to the European single market.
“We’re going to see lots of screaming and shouting, but my message to my team is to absolutely make sure we do everything in our power to ensure our leaders get access to the single market and make sure we heal the rifts that this debate has caused in our society,” he added.
Mr James said despite last Thursday’s vote, business had continued as normal, with sales up and most customers carrying on with their lives as normal.