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| Dixons Carphone profits jump 19% | Dixons Carphone profits jump 19% |
| (about 1 hour later) | |
| Profits at Dixons Carphone have jumped 19% after a rise in sales of phones and domestic appliances in its home market. | |
| In the six months to 29 October, pre-tax profits climbed to £144m while sales rose 4% to £4.9bn. | In the six months to 29 October, pre-tax profits climbed to £144m while sales rose 4% to £4.9bn. |
| The firm said it had seen no effect on consumer demand as a consequence of the Brexit vote, but was planning for "more uncertain times". | The firm said it had seen no effect on consumer demand as a consequence of the Brexit vote, but was planning for "more uncertain times". |
| "In particular, we have been focusing on reducing our fixed cost base," said Seb James, group chief executive. | "In particular, we have been focusing on reducing our fixed cost base," said Seb James, group chief executive. |
| Despite the good news, the firm's shares slipped 4% in early trade. | |
| Its stock has fallen by a third this year, amid investors' concerns over the impact of the weak pound on costs and demand next year. | |
| Store closures | |
| In the period, Dixon Carphone reported growth in all its main divisions, including a 23% jump in sales in Nordic countries, where it benefited from the weaker pound. | |
| Sales were also positive in its core markets, the UK and Ireland, where it trades under the brands Currys, PC World and Carphone Warehouse. | |
| That was partly driven by higher sales of mobiles and consumer electronics, as well as a plan to reduce store numbers. | |
| The company aims to close 134 outlets while it rolls out electrical superstores that merge its three main brands. | |
| Dixons Carphone was created from the £5bn merger between Dixons and Carphone Warehouse in 2014. It employs 42,000 staff in the UK and overseas. | Dixons Carphone was created from the £5bn merger between Dixons and Carphone Warehouse in 2014. It employs 42,000 staff in the UK and overseas. |
| Mr James called the results a "strong start" to 2016, but said the firm was preparing for "all eventualities" in 2017. | |
| "In particular, we have been focusing on... identifying areas of potential market share growth if the world becomes a tougher place for our competitors," he said. | |
| "We are also planning our offer so that potential currency impacts are minimised for the customer." |