Belfast Telegraph

Dixons Carphone to sell Spanish operation for £48m

Electricals giant Dixons Carphone is to offload its Spanish operation for 55 million euros (£48 million).

The group said it will sell The Phone House Spain, Connected World Services Europe and Smarthouse to Global Dominion Access.

The deal is expected to complete by the end of the second quarter and proceeds will be reinvested into the business, Dixons Carphone said.

It follows on from the company's disposal of the Phone House business in the Netherlands, Germany and Portugal two years ago.

Last month the firm batted away fears of a consumer spending slowdown in Britain as it said high street conditions were "holding up" following a 10% leap in annual profits.

The group reported underlying pre-tax profits of £501 million for the year to April 29, up from £457 million the previous year.