Currys and Dixons owner DSG International said today it was in a better shape than a year ago, despite posting a sharp fall in annual profits.
Bottom-line profits of £114.1 million sterling for the year to April 28th compared with £295.9 million sterling a year earlier, reflecting the lower value of its under-performing Italian arm and the closure of PC City stores in France.
However, DSG Ireland reported that its sales rose by over the same period by 29 per cent to €195.3 million. The company has 28 outlets in the Republic operating as Dixons, Currys and PC World.
Group profits at an underlying level were down to £295.1 million from £311 million, even though Currys performed well with a like-for-like sales rise of 3 per cent.
Parent company DSG International said it had decided not to enter the Russian market after a review of how other overseas companies have fared there.