Belfast Telegraph

Profits soar by 10% at electricals firm Dixons Carphone

By Holly Williams

Electricals giant Dixons Carphone has batted away fears of a consumer spending slowdown as it said high street conditions were "holding up" following a 10% leap in annual profits.

The company, which has around 20 stores in Northern Ireland, reported underlying pre-tax profits of £501m for the year to April 29, up from £457m the previous year.

Like-for-like sales rose 4% in the UK and Ireland, although Dixons said around 3% of this rise was thanks to sales transferred from closed shops as part of a store overhaul.

Finance boss Humphrey Singer said the group was "alive to how the consumer is behaving", but it had seen "no changes yet".

Chief executive Seb James added: "While the UK consumer environment seems to be holding up for us, there will undoubtedly continue to be changes in the way people buy all of the products that we sell from phones to washing machines.

"Change always represents opportunity."

Belfast Telegraph