Dixons Carphones posts increase in revenue despite 'lively political environment'

Shares in Dixons Carphone climbed almost 4% early on Wednesday (24 May), after the consumer electronics giant reported an increase in full year revenue, despite a "lively political background".

In the 12 months to April, sales rose 9% year-on-year, while like-for-like sales were 4% higher than in the corresponding period a year earlier. Like-for-like sales in the British market also rose 4%, while full year revenue edged up 2%.

The positive performance means the FTSE 250-listed group now expects pre-tax profit for the full year to come in between £485m to £490m.

"Despite a lively political backdrop, we have been able to continue to grow our business and maintain very high levels of customer satisfaction across the group," said group chief executive Seb James.

However, the timing of Easter and the late launch of the Samsung S8 had a negative impact on the performance of the company's UK and Ireland division in the final three months of the year.

While like-for-like sales increased 2% in the period, revenue slipped 1% from the corresponding period a year ago.

"Given our performance despite this headwind, our view is that the UK consumer continues to be active in the market, but we anticipate no let-up in their very rational view that price and service are critical factors in deciding where to shop," James added.

Dixons, which will publish its full year results in late June, added its performance in southern Europe marked a "very good year", while its business in Scandinavia performed reasonably well "against a relatively tough backdrop".