PC World owner saw losses grow in its Irish subsidiary

DSG Retail Ireland pretax losses increased by €1.5m to €4.7m before Carphone deal

Accounts for the year to the end of May 2015 recently filed by DSG Retail Ireland showed the group’s pretax losses rose by €1.5 million
Accounts for the year to the end of May 2015 recently filed by DSG Retail Ireland showed the group’s pretax losses rose by €1.5 million

The group behind electronics stores Currys and PC World saw losses widen at its Irish subsidiary in the year before its merger with Carphone Warehouse.

Accounts for the year to the end of May 2015 recently filed by DSG Retail Ireland, showed the group's pretax losses rose by €1.5 million to €4.7 million.

Sales for the group, which was previously owned by Dixons, increased by 1 per cent going up from from €150 million to €152 million.

The directors said the results reflected the “continued difficult economic environment” in which the company was trading in.

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During the year that is under review, around 200 employees departed the company.

However, staff costs, including wages and salaries, remained relatively unchanged at €15.7 million.

Dixons announced a £3.8 billion (€4.7bn) “merger of equals” with Carphone Warehouse in May 2015.

Accounts recently filed for the Irish subsidiary of Carphone, show it recorded a pretax loss of €2.5 million for the year to May 2nd, 2015.

This came after the company turned a €10 million loss in 2013 into a €2.1 million profit in 2014.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist