Dixons Carphone reinstated its dividend as it swung back to profit on the back of a massive boost in online electrical goods sales during Covid lockdowns.
The company on Wednesday reported pre-tax profits of £33m compared to a £140m loss a year earlier. Group revenue rose 2% to £10.3bn, offset by Carphone Warehouse closures in March, but online electrical sales more than doubled to £4.7bn. A dividend of 3p a share was declared.
Dixons, which also owns the Currys and PC World chains, added that the start to the financial year has seen continued strong trading with evidence that its markets would be structurally larger post-pandemic, and that not all last year’s growth was pulled forward.
“In UK & Ireland electricals, our sales are up on last year, with around half of the sales through our stores, as expected. In International, our sales are trending positively against strong growth in the previous year,” the company said.
