Dixons Carphone, the European electricals and mobile phone retailer, raised profit guidance for its 2014-15 year after quarterly trading smashed expectations.

The firm, formed by last year’s merger between Dixons Retail and Carphone Warehouse, said sales at stores open over a year were up 9 per cent in the 17 weeks to May 2nd, its fiscal fourth quarter.

That compared with analysts’ consensus forecast of a rise of 4 per cent.

Group gross margins were stable in the full year.

Dixons Carphone said underlying pretax profit was now expected to be slightly above the top end of the previously guided range of £355-375 million.

Reuters