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Dixons Retail plc
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Company Information
Address: Maylands Avenue
Hemel Hempstead
Hertfordshire
HP2 7TG
Index: To continue showing the FTSE index and sector information we need a license from FTSE International Limited. Will anyone sponsor us to return this data to the site.
Tel: +44 (0) 1727 204422 Sector:
Fax:
E-Mail: corporate.affairs@dixonsretail.com Epic:
Secretary: Helen Grantham    
Registrar: Capita Registrars Huddersfield Ltd Updated: 10/02/2014

News from RSS Feed

Mon, 19 May 2014 07:10:17 +0000

Sale of Central European Operations

Dixons Retail plc ("Dixons Retail"), one of Europe’s leading specialist multi-channel electrical retailer and services companies, today announces that it has entered into an agreement to sell the ElectroWorld operations in Central Europe to NAY a.s., a leading electrical specialist retailer in the region.

Electroworld operates 26 specialist electrical retail stores across Czech Republic and Slovakia.

Following completion, which is expected to take place during the summer, and which remains subject to certain normal conditions including competition authority clearance, Dixons Retail expects to receive a small deferred cash consideration spread over three years.

For the year to April 2014, the assets being disposed of generated losses before tax of £5.6 million on turnover of £129 million from 26 stores (including 2 franchise stores).

Commenting on the disposal, Sebastian James, Dixons Retail Group Chief Executive, said:

"I am very pleased that we have been able to secure a strong future for Electroworld who will be able to flourish as a part of the NAY Group in Central Europe. Following this transaction Dixons will be a market leader in every market in which it operates, delivering on one of our key strategic objectives."

Commenting on the deal, Mr.Peter Zálešák and Mr Ján Tomáš, co-founders of NAY, said:

"We are pleased to announce the closure of this deal with ElectroWorld. It is a big step towards achieving our goal of reaching EUR 300m of sales in Central Europe and we strongly believe it allows the development of our market leading position in Slovakia. Furthermore it achieves our longer-term development to enter the Czech market and we are delighted to do that in conjunction with such a good partner as Electroworld.”

For further information

David Lloyd-Seed,
IR, PR & Corporate Affairs Director, Dixons Retail
01727 205065

Hannah Collyer,
Head of Media Relations, Dixons Retail
01727 203041

Tom Burns, Nick Cosgrove
Brunswick
020 7404 5959

Information about Dixons Retail

Dixons Retail is one of Europe's leading specialist electrical multi-channel retailing and services company, employing over 31,000 people in 12 countries. More than 100 million customers shop with us every year, online and in over 900 Dixons Group stores.

Dixons Retail has built a successful and sustainable multichannel approach to electrical retailing.  Focused on the customer, the business offers a comprehensive range of after sales services, including support from Knowhow, the UK's leading provider of technology solutions, support, expertise and repairs.  Business-to-business services are provided through PC World in the UK.  As market leader in the Nordics, the business enjoys a superb reputation for first class customer service, a cost effective supply chain, strong retail sites across four countries and great supply relationships.

Dixons Retails’ brands include Currys, PC World and Knowhow in the UK and Ireland.  Customers shop with Elkjøp, El Giganten, Gigantti, Lefdal and Knowhow in the Nordic countries, Kotsovolos in Greece, ElectroWorld in central Europe and Dixons Travel in a number of airports across Europe.  Aiming to deliver an unbeatable combination of Value, Choice and Service, the company is proud to stand shoulder-to-shoulder with millions of customers whilst delivering a truly multichannel shopping experience.

For more information about Dixons Retail plc, please visit www.Dixonsretail.com

Follow us on Twitter: @DixonsRetail

Information about Nay

Already for 23 years, company NAY is present on the Slovak market and is in a position of the largest retail seller of consumer electronics, offering the largest assortment of global brands of white, black and information technology electronics, along with a broad portfolio of relevant services. The company began its activities in the beginning of the 90s as a distributor of global brands of electronics. Since 1992 the company began to build up its own network of retail shops. In 1998 it created a concept of large-scaled shops, under registered trademark of NAY Elektrodom, which it gradually spread all over Slovakia. Until now it operates 31 shops in 25 cities in Slovakia and employs more than 800 employees. Its loyalty club NAY EXTRA CLUB has more than 750 000 members. At present the company is building a modern multichannel access to merchandise through its e-shop www.nay.sk. During the last year the company reached a turnover of over 150 million euro and with its market share of over 15 % is NAY the leader of Slovak electronics market.

For more information please visit www.nay.sk .

19 May 2014

Company Overview

Dixons Retail plc is one of Europe's leading specialist electrical retailing groups. They sell consumer electronics, personal computers, domestic appliances, photographic equipment, communication products and related services.

They trade through over 1,200 stores and online, spanning 28 countries and we employ 36,500 people.

They are the number one market leaders in the UK & Ireland, Nordics and Greece.

In May 2008 they launched a Renewal & Transformation plan to transform the Group, focusing on customers as well as deliver a 3-4% EBIT return.

Underpinning the Renewal & Transformation is an absolute focus on improving the shopping trip for customers. This has been formulated into the Customer Plan which starts with seven core principals which form the basis of the work being done to improve the business for customers, colleagues and shareholders.

 
Annual Reports
Description Report Date Published Current  
bullet point Annual Report 2013 in PDF 30/04/2013 20/06/2013 Yes  
bullet point Annual Report 2012 in PDF 28/04/2012 21/06/2012 No  
bullet point Annual Report 2011 in PDF 30/04/2011 23/06/2011 No  
bullet point Annual Report 2010 in PDF 1/05/2010 24/06/2010 No  
bullet point Annual Report 2009 in PDF 2/05/2009 25/06/2009 No  
 
Interim Reports
Description Report Date Published Current  
bullet point Interim Results 2013 in PDF 31/10/2013 17/12/2013 Yes  
bullet point Interim Results 2012 in PDF 31/10/2012 29/11/2012 No  
bullet point Interim Results 2011 in PDF 15/10/2011 24/11/2011 No  
bullet point Interim Results 2010 in PDF 16/10/2010 25/11/2010 No  
bullet point Interim Results 2009 in PDF 17/10/2009 26/11/2009 No  
bullet point Interim Results 2008 in PDF 18/10/2008 27/11/2008 No  
 
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Dividend History
Type Payment Date Dividend
Final 27/09/2009 0 p
Final 26/09/2008 3.43 p
Interim 25/01/2008 2.02 p
Final 28/09/2007 6.85 p
Interim 2/03/2007 2.02 p
Final 29/09/2006 6.53 p
Interim 1/03/2006 1.92 p
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Interim 28/02/2005 1.83 p
Final 30/09/2004 5.66 p
Interim 1/03/2004 1.66 p
Final 30/09/2003 5.15 p
Interim 3/03/2003 1.51 p
Final 7/10/2002 4.68 p
Interim 4/03/2002 1.38 p
Final 8/10/2001 4.25 p
Interim 5/03/2001 1.25 p
Final 4/10/2000 3.55 p
Interim 6/03/2000 4.2 p
Interim 13/12/1999 7.5 p
Final 4/10/1999 11.8 p
Interim 6/04/1998 3.5 p
     
Future Events
Event Date

AGM 4/09/2014
Interim Results 11/12/2014

News from RSS Feed

Mon, 19 May 2014 07:10:17 +0000

Sale of Central European Operations

Dixons Retail plc ("Dixons Retail"), one of Europe’s leading specialist multi-channel electrical retailer and services companies, today announces that it has entered into an agreement to sell the ElectroWorld operations in Central Europe to NAY a.s., a leading electrical specialist retailer in the region.

Electroworld operates 26 specialist electrical retail stores across Czech Republic and Slovakia.

Following completion, which is expected to take place during the summer, and which remains subject to certain normal conditions including competition authority clearance, Dixons Retail expects to receive a small deferred cash consideration spread over three years.

For the year to April 2014, the assets being disposed of generated losses before tax of £5.6 million on turnover of £129 million from 26 stores (including 2 franchise stores).

Commenting on the disposal, Sebastian James, Dixons Retail Group Chief Executive, said:

"I am very pleased that we have been able to secure a strong future for Electroworld who will be able to flourish as a part of the NAY Group in Central Europe. Following this transaction Dixons will be a market leader in every market in which it operates, delivering on one of our key strategic objectives."

Commenting on the deal, Mr.Peter Zálešák and Mr Ján Tomáš, co-founders of NAY, said:

"We are pleased to announce the closure of this deal with ElectroWorld. It is a big step towards achieving our goal of reaching EUR 300m of sales in Central Europe and we strongly believe it allows the development of our market leading position in Slovakia. Furthermore it achieves our longer-term development to enter the Czech market and we are delighted to do that in conjunction with such a good partner as Electroworld.”

For further information

David Lloyd-Seed,
IR, PR & Corporate Affairs Director, Dixons Retail
01727 205065

Hannah Collyer,
Head of Media Relations, Dixons Retail
01727 203041

Tom Burns, Nick Cosgrove
Brunswick
020 7404 5959

Information about Dixons Retail

Dixons Retail is one of Europe's leading specialist electrical multi-channel retailing and services company, employing over 31,000 people in 12 countries. More than 100 million customers shop with us every year, online and in over 900 Dixons Group stores.

Dixons Retail has built a successful and sustainable multichannel approach to electrical retailing.  Focused on the customer, the business offers a comprehensive range of after sales services, including support from Knowhow, the UK's leading provider of technology solutions, support, expertise and repairs.  Business-to-business services are provided through PC World in the UK.  As market leader in the Nordics, the business enjoys a superb reputation for first class customer service, a cost effective supply chain, strong retail sites across four countries and great supply relationships.

Dixons Retails’ brands include Currys, PC World and Knowhow in the UK and Ireland.  Customers shop with Elkjøp, El Giganten, Gigantti, Lefdal and Knowhow in the Nordic countries, Kotsovolos in Greece, ElectroWorld in central Europe and Dixons Travel in a number of airports across Europe.  Aiming to deliver an unbeatable combination of Value, Choice and Service, the company is proud to stand shoulder-to-shoulder with millions of customers whilst delivering a truly multichannel shopping experience.

For more information about Dixons Retail plc, please visit www.Dixonsretail.com

Follow us on Twitter: @DixonsRetail

Information about Nay

Already for 23 years, company NAY is present on the Slovak market and is in a position of the largest retail seller of consumer electronics, offering the largest assortment of global brands of white, black and information technology electronics, along with a broad portfolio of relevant services. The company began its activities in the beginning of the 90s as a distributor of global brands of electronics. Since 1992 the company began to build up its own network of retail shops. In 1998 it created a concept of large-scaled shops, under registered trademark of NAY Elektrodom, which it gradually spread all over Slovakia. Until now it operates 31 shops in 25 cities in Slovakia and employs more than 800 employees. Its loyalty club NAY EXTRA CLUB has more than 750 000 members. At present the company is building a modern multichannel access to merchandise through its e-shop www.nay.sk. During the last year the company reached a turnover of over 150 million euro and with its market share of over 15 % is NAY the leader of Slovak electronics market.

For more information please visit www.nay.sk .

19 May 2014
Thu, 03 Apr 2014 08:02:34 +0000

Perfect position to Tweet whilst watching TV revealed

Thursday 3rdApril 2014, Currys & PC World found that over 50% of Brits spend two hours a day second screening, while 1 in 10 rack up 5 hours of tweeting, checking emails or booking tickets online whilst watching the box.

As The Voice finale hits this weekend, Britain’s Got Talent returns this month, and the World Cup fast approaches, Currys & PC World, the UK’s leading electrical retailers, have partnered with interiors expert Oliver Heath to produce the perfect formula to watch TV whilst tweeting.

60% of time with family in the home is spent in front of their TV, and using Currys & PC World’s latest formula it’s possible to spend that time multi-tasking in total comfort, whether that’s watching the TV whilst checking your latest tweets, Facebook statuses or emails!

Currys and PC World’s study revealed 60% of Brits position their second screen on their lap, while 1 in 5 place it on the sofa.  The second screening phenomenon continues to grow, with 3 out of 5* Twitter users tweeting while watching TV.  Last weekend the most tweeted about shows** included those within the spheres of reality, sports and entertainment – shows such as The Only Way Is Essex, Match Of The Day and Surprise Surprise.

According to Currys & PC World, the screen size to screen distance when watching TV is vital, for example if watching a 40-inch HDTV screen it is best viewed from a distance of 2.5 m.  The distance and screen size ratio is dependent on how much and what type of media one watches; for example, Blu-rays, or digital services.  It is also down to personal opinion and preference.  Heath, however, suggests that “As general rule one should consider watching their TV from the below distances”:

Screen Size Viewing distance
Up to 32” Less than 1.5m
32” to 39” 1.5 - 2m
40” to 45” 1.5m - 2.5m
46” to 55” 2.5 - 3m
Over 56” over 3m

 

TV is best viewed – whilst second screening - from straight on, with eye level at the centre of the screen, however the type of screen is also important, as Heath explains:

“When watching HDTVs you can watch on a larger screen from a smaller distance compared to a smaller standard screen, as the resolution is better, so you’ll be less distracted by the screens pixels.  However bigger TVs, particularly HDTVS will offer a more immersive experience.”

Optimum position and conditions, such as lighting are also important, Oliver Heath explains:
“Regarding lighting, position your TV in a place to prevent natural light reflecting from the screen, bright sunlight next to the screen will create glare which will reduce your viewing quality.”

As well as choosing the right type of TV, watching it from the right distance, and selecting the right lighting, additional furniture is also always advised for the perfect second screen experience.  For example, a side table and a coffee table to safely place a second screen on, rather than risk leaving it on the sofa and someone sitting on it or it slipping off your lap as you stand up. 

- ENDS -

For further information, please contact the Dixons Retail Press Office:
dixonsretail@mcsaatchi.com / 020 7543 4528

Notes to editors
*Twitter research https://blog.twitter.com/en-gb/2014/80-of-uk-users-access-twitter-via-their-mobile
**SecondSync data https://secondsync.com/leaderboard.html#Sun-Mar-30-2014/tpm

About Currys and PC World:
Currys PC World are part of Dixons Retail plc. Dixons Retail plc. is Europe's largest specialist electrical multi-channel retailing and services company. The company’s aim is to bring the latest technology at the best prices to our customers combined with great advice and after sales care. The company operates multi-channel businesses in 12 countries, employing over 31,000 people.  More than 100 million customers shop with us every year, online and in over 900 stores.

03 Apr 2014
Thu, 20 Mar 2014 15:32:28 +0000

Currys & PC World unveils new superstore in Derby

 

  • 10 local jobs created
  • 5,000 products available in store

Friday March 21st will see the Currys & PC World Superstore in Derby re-open at 9:00am. The new store opens after an extensive refurbishment project and brings between 4-10 new jobs to the area. The cutting of the ribbon will be carried out by the Mayor of Derby, Councillor Fareed Hussain.

The 15,500 square foot newly refurbished superstore will provide the best of both brands under one roof providing the widest range and best selection of electricals from Currys & PC World, making shopping for them a much simpler and more enjoyable experience for customers.

The Superstore will showcase thousands of products including an impressive range of white goods, cooking and small domestic appliances and a massive selection of computing laptops and TVs.

An Apple ‘shop in shop’ features in the Currys & PC World Derby superstore, which will showcase the latest Apple technology.  The superstore also opens with a state-of-the-art KNOWHOW service bar, giving shoppers the added benefit of expert technical advice and support on-site, as well as ‘Showhow’ demonstrations on specific products. There will also be a revamped PC World Business centre, with advisors on hand to give expert advice and support to help local companies grow will also feature in the new store.

Other services available through the new superstore will include the award-winning ‘WEEE recycling scheme’ (customers can bring any old electrical products into store and have them recycled for free) and ‘Order & Collect’, whereby goods can be easily reserved online for convenient collection in-store.

General Manager, Tony Hodgson comments: “The new Superstore in Derby will bring together the best from both Currys & PC World and offer locals a huge range of the latest tech.

“This will be one of the biggest electrical shopping destinations in Derby and customers will be greeted by an exciting, fun and interactive in-store experience where they can test out and play with products and get impartial advice from store colleagues. Whether they’re tech-savvy or tech-wary, our friendly staff will be on hand to make sure the people of Derby get the most out of their visit.”

The store colleagues have all taken part in a special training programme; specifically designed by Currys & PC World to ensure they can offer customers help and advice to enable them to find the right solution to their individual needs and technology requirements.

The Derby Superstore is part of an ongoing Currys & PC World refurbishment programme across the country. Tony Hodgson added:  “The refitted Superstore will offer an unbeatable combination of value, choice and service and will be the number one destination for electrical products in the region.”

- ENDS -

For further information please contact:

Olivia Gregory
M&C Saatchi PR                                                                              
020 3617 6603                                                                  
Olivia.gregory@mcsaatchi.com                                 

 

NOTES TO EDITOR

Full address of the new Currys & PC World Superstore store is:

Currys & PC World
The Meteor Centre

Wheatcroft Way
Derby
DE21 4RY

About Currys & PC World:

Currys PC World are part of Dixons Retail plc. Dixons Retail plc. is Europe's largest specialist electrical multi-channel retailing and services company. The company’s aim is to bring the latest technology at the best prices to our customers combined with great advice and after sales care. The company operates multi-channel businesses in 12 countries, employing 32,000 people.  More than 100 million customers shop with us every year, online and in our c.955 stores.

20 Mar 2014
Fri, 14 Mar 2014 16:48:51 +0000

Currys & PC World Store Manager Named Store Manager of the Year at Oracle Retail Week Awards

Currys & PC World’s Richard Kirk has been named Store Manager of the Year at the 2014 Oracle Retail Week Awards, held on March 13th 2014 at the Grosvenor House Hotel, London.

Richard Kirk was awarded Store Manager of the Year after beating off fierce competition from across the UK.  Following his success in Currys & PC World Poole store, Richard moved to Currys & PC World’s largest UK store in Birmingham.  The challenge for Richard in Birmingham was aligning the two brands – Currys & PC World, and running both super-size stores, while managing a workforce of over 160 people.

Richard Kirk, Store Director at Currys and PC World Birmingham Junction 9 Megastore commented:

“I’m honoured to have been recognised within the industry and I’m very grateful for this award.  I want to thank all of my colleagues and Currys & PC World for the opportunities I’ve had over my career.  Whether it’s been managing my first store in Poole to helping develop the Birmingham store and building the fantastic team we now have.”

Katie Bickerstaffe, Dixons Retail Chief Executive UK & Ireland recognised Richard’s win stating:

“Richard is the absolute epitome of how a fantastic leader should behave - brilliant store performances and inspiring leadership – a total star! I couldn’t be more pleased that he has been recognised for his outstanding performance and we are all very proud to have him in our business.”

The entry was reviewed by an esteemed jury, made up of influential figures and experts from the independent retail sector, who notably include: Andy Clarke, Chief Executive, Asda; John King, Chief Executive, House of Fraser; Vanessa Gold, Managing Director, Anne Summers; Chris Bush, UK Managing Director, Tesco; Andy Street, UK MD, John Lewis and Stephen Robertson, British Retail Consortium.

The judges were impressed by Kirk’s ability to balance the commercial task at hand with a passion for his team and the products.  Richard displays a natural flair for retail and has shown an incredible talent through his various initiatives, pioneering successful and innovative merchandising, marketing, supplier and staff engagement initiatives which helped deliver an unrivalled customer advocacy score of 99% over twelve months.  He’s also created 83 work experience placements for students from local schools and colleges in the past year and runs various community and charity initiatives in-store.

Commenting on this year’s Oracle Retail Week Awards winners, Chris Brook-Carter, Editor-in-Chief of Retail Week, said:

“Richard Kirk and all the winners of this year’s Oracle Retail Week Awards have been recognised and celebrated for going above and beyond to respond to the developing challenges presented to the retail industry over the past year.”

- ENDS -

For further information, please contact the Dixons Retail Press Office:
dixonsretail@mcsaatchi.com / 020 7543 4528

Notes to editors

About Currys and PC World:

Currys & PC World are part of Dixons Retail plc.  Dixons Retail plc is Europe's largest specialist electrical retailing and services company.  Our aim is to bring the latest technology at the best prices to our customers combined with great advice and after sales care. We operate multi-channel businesses in 12 countries and pure play operations in 14 countries. We have 1,100 stores and nearly 36,000 colleagues.

14 Mar 2014
Tue, 17 Dec 2013 07:03:27 +0000

Interim Results

ENCOURAGING FIRST HALF

EXCELLENT PROGRESS MADE ON STREAMLINING THE GROUP

Dixons Retail plc, Europe’s leading specialist multi-channel electrical retailing and services company, today announces Interim results for the 6 months to 31 October 2013.

KEY HIGHLIGHTS

  • Encouraging first half with Group like for like sales(3) up 6%.
  • Improved profitability with Underlying Group EBIT(6) up 52% to £48.1 million.
    • UK & Ireland delivered a strong performance, with underlying operating profits up five-fold to £31.4 million.
    • Northern Europe continues to perform well in competitive markets, delivering an underlying operating profit of £45.5 million.
  • Good cash generation, achieving net cash of £55.4 million compared to a net debt position of £21.9 million in the first half of last year.
  • Excellent progress made on the strategic goal to focus on our leading market positions:
    • Completed the disposals of Electroworld operations in Turkey and Unieuro in Italy.
    • Completion of the disposal of PIXmania expected by the end of December.
  • On track to reduce costs by our targeted £45 million in the current year.
  • Return on Capital Employed(8) in the 12 months to 31 October 2013 has improved to 15.6%, up from the 11.6% reported at 30 April 2013.

Sebastian James, Chief Executive commented:

“I am pleased to report that we have had a successful first half with customer satisfaction and profitability up considerably year on year.  In fact, as a Group we are reporting an underlying profit for the first time in six years.  The UK & Ireland, in particular, has performed very well while our Nordic business is more than holding its own in a - somewhat - more competitive market.  Our Greek business continues to grow market share against some gusty headwinds.

I am very happy that, in the last few months, we have been able to streamline the Group substantially.  The transactions that we have announced with PIXmania, Unieuro and Electroworld in Turkey represent a real achievement and will leave Dixons in a leadership position in all of our major markets.  Quite apart from removing a significant profit-drag on the business, these changes mean that we can really focus on new and exciting opportunities to do more for our customers and suppliers, and on working more closely to drive tangible benefits from being part of our Group.

We remain cautious about the outlook for consumers in our markets; very strong trading this time last year, together with the fact that we have now annualised Comet’s exit makes the second half more challenging.  Nevertheless, we have had a great first half and our stores have never looked better - or had better offers for customers.”

FINANCIAL HIGHLIGHTS

  • Total Underlying Group sales(1) of £3.43 billion (2012/13(2) £3.20 billion), up 5% on a currency neutral basis.
  • Underlying(1) Group gross margins down 0.6%.
  • Underlying pre-tax profit(1) of £30.2 million (2012/13(2)  £14.0 million).
    • Total profit before tax from continuing operations of £22.7 million (2012/13(2) £0.6 million), after net non-underlying charges of £7.5 million.
  • Underlying diluted earnings per share(1) of 0.5 pence (2012/13(2) 0.2 pence).  Basic earnings per share for continuing operations of 0.3 pence (2012/13(2) nil pence).
  • Total loss after tax, including the discontinued operations of Electroworld Turkey, Unieuro and PIXmania, of £83.5 million (2012/13 £101.0 million).

 

 

6 months ended 31 October 2013

Underlying Sales

Total sales

Sterling

Total sales

Local currency

Like for like

sales

UK & Ireland

+7%

+7%

+9%

Northern Europe

Nordics & Central Europe

+8%

+4%

+3%

Greece

(1)%

(7)%

(14)%

Total Underlying Group

+7%

+5%

+6%

 

— Ends —

For further information

David Lloyd-Seed
IR & Corporate Affairs Director, Dixons Retail
01727 205 065

Hannah Collyer
Head of Media Relations, Dixons Retail
01727 205 065

Nick Cosgrove / Helen Smith
Brunswick Group
020 7404 5959

A live video webcast of the presentation being held this morning will be available from www.dixonsretail.com/webcast at 09:00 (click "Investors", then "Results, Reports & Presentations").

Information on Dixons Retail plc is available at http://www.dixonsretail.com

Follow us on Twitter @DixonsRetail

Information contained on the Dixons Retail plc website or the Twitter feed does not form part of this announcement and should not be relied on as such.

 

Underlying sales and profit analysis(2)

 

 

Underlying sales

 

Underlying profit/(loss)

 

Note

6 months ended

31 October 2013

£million

6 months ended

 31 October 2012

£million

% change

Like for

 like(3)

% change

 

6 months ended

31 October 2013

£million

6 months ended

31 October 2012

£million

UK & Ireland

(4)

1,856.4

1,732.8

7%

9%

 

31.4

6.9

Northern Europe

(5)

1,435.4

1,324.9

8%

3%

 

45.5

48.5

Greece

 

139.6

141.2

(1)%

(14)%

 

(5.8)

(4.1)

Central costs

 

 

 

 

 

 

(7.5)

(7.6)

Total Group Retail

 

3,431.4

3,198.9

7%

6%

 

63.6

43.7

Property losses

 

 

 

 

 

 

(15.5)

(12.1)

EBIT

(6)

 

 

 

 

 

48.1

31.6

Underlying net finance costs

 

 

 

 

 

 

(17.9)

(17.6)

Group underlying profit before tax

 

 

 

 

 

 

30.2

14.0

Notes

(1) Throughout this report, references are made to ‘underlying’ performance measures. Underlying results are defined as excluding trading results from businesses exited (PC City Spain and Equanet), amortisation of acquired intangibles, net restructuring and business impairment charges and other one off non-recurring items, profits / (losses) on sale of investments or businesses, net interest on defined benefit pension schemes, net fair value remeasurements of financial instruments and, where applicable, discontinued operations (Electroworld Turkey, Unieuro and PIXmania). These excluded items are described as ‘non-underlying’. The financial effect of these items is shown in the analyses on the face of the income statement and in notes 3 and 8 to the financial information.
(2) Historically, the Group has prepared its financial statements to the Saturday closest to its accounting reference date of 30 April, meaning that financial years have comprised 13 four week financial periods.  This has resulted in the interim financial statements historically being drawn up for 24 weeks ended in mid October.  Commencing 30 April 2013, the Group now draws up its accounts for years ending on 30 April comprising twelve calendar monthly periods and accordingly, the Group’s interim period now ends on 31 October.  As a result, financial information for the 6 months ended 31 October 2012 has been presented for the first time as a comparative.
(3) Like for like sales are calculated based on underlying store and internet sales using constant exchange rates.  New stores are included where they have been open for a full financial year both at the beginning and end of the financial period.  Closed stores are excluded for any period of closure.  Customer support agreement sales are excluded from all UK like for like calculations.
(4)UK & Ireland comprises Currys, PC World, CurrysDigital, Dixons Travel, Harrods concession, operations in Ireland, PC World Business and KNOWHOW.
(5)Northern Europe comprises the Elkjøp group and Electroworld in the Czech Republic and Slovakia.
(6) Earnings Before Interest and Tax (EBIT) equates to underlying operating profit and is defined as underlying earnings from continuing retail operations, after property losses, before deduction of net finance costs and tax.
(7) Free Cash Flow relates to continuing operations and comprises net cash flow from operating activities before special pension contributions, less net finance costs, less income tax paid and net capital expenditure.
(8) The Group calculates ROCE on a pre tax and lease adjusted basis.  The return is based on underlying operating profit, adjusted to add back the estimated interest component associated with capitalising operating lease costs.  Capital employed is based on net assets including capitalised leases, but excluding goodwill, cash, tax and the defined benefit pension obligations.  The calculation is performed on a moving annual total in order to best match the return on assets in a year with the assets in use during the year to generate the return.
(9) Unless otherwise noted, throughout this statement figures relate to continuing operations.  Discontinued operations comprise Electroworld Turkey, Unieuro and PIXmania.  Total revenue including discontinued operations was £3,892.1 million (2012/13  £3,819.7 million).
(10) Certain statements made in this announcement are forward looking. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward looking statements. Unless otherwise required by applicable laws, regulations or accounting standards, we do not undertake any obligation to update or revise any forward looking statements, whether as a result of new information, future developments or otherwise. 

17 Dec 2013
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Wed, 07 Aug 2013 09:34:57 +0000

Currys & PC World Announce New Delivery Services

Tuesday, August 6th Currys & PC World, the UK’s leading electrical retailers, have today announced new delivery services updates in partnership with Royal Mail Courier Service; including Same Day, Next Day, Sunday deliveries for small box deliveries*.  Services will be available on over 362 days of year, apart from Christmas Day, Easter Sunday and New Year’s Day.

A Same Day delivery service will be introduced for orders placed before 9:30am, with delivery to the customers between 6:30pm and 10:00pm.

Next Day delivery will be available for orders placed before midnight, with delivery to the customer between 6:30pm and 10:00pm (the following day).  Previously, only orders placed before 5pm qualified for the Next Day delivery service, so this is a significant enhancement to Currys & PC World’s proposition.

Sunday deliveries will also be introduced, catering to those customers who prefer to receive their orders on weekends.  Currys & PC World currently offer Saturday-only delivery; however a Sunday proposition with delivery between 2:30pm and 6:00pm will allow for more flexibility, suiting customers’ busy 21st century lives.

All services** will launch in London, Greater London and other selected post codes with the aim to expand to other areas of the country in the short-term.

Sameday and Sunday deliveries are priced at £14.99. Next day delivery starts from £4.99.

-ENDS-

Olivia Gregory - olivia.gregory@mcsaatchi.com / 020 3617 6603
Jonny Stanton - jonny.stanton@mcsaatchi.com / 020 7543 4528

Notes to editors
*Small box deliveries are all products excluding large home appliances and TVs over 39”
**Services will be provided by Royal Mail Courier Service

About Currys &PC World:
Currys & PC World are part of Dixons Retail plc.Dixons Retail plc is Europe's largest specialist electrical retailing and services company.Our aim is to bring the latest technology at the best prices to our customers combined with great advice and after sales care. We operate multi-channel businesses in 12 countries and pure play operations in 14 countries. We have 1,100 stores and nearly 36,000 colleagues.

07 Aug 2013
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