TIDMDC.
RNS Number : 0371G
Dixons Carphone PLC
24 May 2017
Dixons Carphone plc
Another year of growth for Dixons Carphone
Trading update for the 16 weeks ended 29 April 2017
-- Group reported revenues up 9% for the full year (up 6% in Q4)
-- like-for-like revenues up 4% for the full year (up 2% in Q4)
-- growth across all regions
-- Group gross margins broadly stable across the year
-- Group Headline PBT guidance of GBP485m-GBP490m (previous guidance GBP475m-GBP495m)
FY revenues
Reported Local Like-for-
revenues currency like
% change % change(1) % change(2)
------------------------- --------- ------------ ------------
UK & Ireland 2% 2% 4%
Nordics 20% 5% 1%
Southern Europe 20% 4% 6%
Connected World Services 41% 37% n/a
-------------------------- --------- ------------ ------------
Group 9% 3% 4%
-------------------------- --------- ------------ ------------
Note:
In the UK & Ireland, like-for-like revenues in the full year
improved by approximately 3% as a result of sales successfully
transferred from closed stores and sales disruptions. This mainly
benefited UK&I electricals, where like-for-like revenues grew
7%.
Q4 revenues
Reported Local Like-for-
revenues currency like
% change % change(1) % change(2)
------------------------- --------- ------------ ------------
UK & Ireland (1)% (1)% 2%
Nordics 20% 7% 2%
Southern Europe 16% 6% 5%
Connected World Services 12% 11% n/a
-------------------------- --------- ------------ ------------
Group 6% 2% 2%
-------------------------- --------- ------------ ------------
Note:
In the UK & Ireland, like-for-like revenues in Q4 improved
by approximately 4% as a result of sales successfully transferred
from closed stores. This mainly benefited UK&I electricals,
where like-for-like revenues grew 7%.
Seb James, Group Chief Executive, said:
"I am pleased to be reporting on another good year at Dixons
Carphone. 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. We have continued to evolve
our approach to multi-channel and we have gained an even better
understanding of how the online and offline worlds work together to
help customers make great choices on these important and
life-enhancing technologies.
Our full year like-for-like sales of 4% over the year is
pleasing across the Group; in the last quarter, sales in the UK
& Ireland were - especially in phone - impacted by the later
launch of the iconic (and excellent) Samsung S8 and by a late
Easter. 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.
Finally, I would like to thank our 42,000 colleagues in eleven
countries around the world for their tireless work this year.
Electrical and phone retail can be a complex and lively business,
but our colleagues have done a great job of making it look
easy."
UK & Ireland
The UK & Ireland has had a good year with full year
like-for-like revenues up 4% driven by a strong electricals
performance. This has more than offset a tough year in phone,
hampered by product issues, a limited supply in the market and some
shift to SIM only. Total revenues grew by 2%. Q4 like-for-like
revenues grew 2%, within this electricals grew strongly, whilst
phone was impacted by the deferred release of Samsung S8 which was
pushed back five weeks. During the year we have all but completed
the transformation of our stores to the 3-in-1 format. We have also
acquired and integrated Simplifydigital and doubled our market
share of the broadband switch market, launched a brand new Carphone
Warehouse web platform, whilst continuing to be competitive on
price and maintaining very high levels of customer
satisfaction.
Nordics
The Nordics delivered full year like-for-like revenues up 1%
against a relatively tough backdrop. We have been focussed on
managing both sales and margins whilst remaining price competitive
and maintaining high levels of customer satisfaction. Q4
like-for-like revenues grew 2% against a tough comparative. The new
warehouse at Jönköping is now fully operational and we have
completed the integration of the Fona business in Denmark.
Southern Europe
Southern Europe has had another very good year, delivering full
year like-for-like revenues up 6%. With Greece a particularly
strong performer, the business continues to gain market share and
improve its service and delivery propositions and in Spain the
SmartHouse initiative is providing good momentum against a tough
overall market backdrop.
Investor and analyst webcast
There will be a conference call for investors and analysts at
8:00am BST (9:00am CET) this morning.
Dial-in details - UK/International: +44(0) 20 3059 8125;
passcode to be quoted to operator: 5598
Seven-day replay - UK/International: +44(0) 121 260 4861;
passcode: 6038556#
Next announcement
The Group will publish its full year results on Wednesday 28
June 2017.
For further information
IR, PR & Corporate +44 (0)7748 933
Kate Ferry Affairs Director 206
+44 (0)7979 696
Mark Reynolds Head of Investor Relations 498
+44 (0)7834 256
Hannah Collyer Head of Media Relations 775
Nick Cosgrove,
Helen Smith Brunswick Group +44 (0)207 404 5959
Information on Dixons Carphone plc is available at
www.dixonscarphone.com
Follow us on Twitter: @dixonscarphone and @DCSebJ
About Dixons Carphone
Dixons Carphone plc is Europe's leading specialist
electrical and telecommunications retailer and services
company, employing over 42,000 people in eleven countries.
Focused on helping customers navigate the connected
world, Dixons Carphone offers a comprehensive range
of electrical and mobile products, connectivity and
expert after-sales services from the Geek Squad and
Knowhow.
Dixons Carphone's primary brands include Carphone
Warehouse, CurrysPCWorld and Simplifydigital in the
UK & Ireland, Elkjøp, Elkjøp Phonehouse,
Elgiganten, Elgiganten Phone House, Gigantti and Lefdal
in the Nordic countries, Kotsovolos in Greece, Dixons
Travel in a number of UK & Ireland airports and Phone
House in Spain. Our key service brands include Knowhow
in the UK, Ireland and the Nordics, and Geek Squad
in the UK, Ireland and Spain.
Business-to-business (B2B) services are provided through
Connected World Services, CurrysPCWorld Business and
Carphone Warehouse Business. Connected World Services
aims to leverage the Group's existing expertise, operating
processes and technology to provide a range of services
to businesses.
Dixons Carphone was voted 'Retailer of the Year' at
the Retail Week Awards 2016.
--------------------------------------------------------------------
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. Information
contained on the Dixons Carphone plc website or the Twitter feed
does not form part of this announcement and should not be relied on
as such.
Notes
(1) Change in local currency revenue reflects total revenues on
a constant currency and period basis.
(2) Like-for-like revenue is calculated based on Headline store
and internet revenue 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. Revenue from
franchise stores are excluded and closed stores are excluded for
any period of closure during either period. Customer support
agreement, insurance and wholesale revenues along with revenue from
Connected World Services and other non-retail businesses are
excluded from like-for-like calculations. Revenue from Carphone
Warehouse SWAS are included in like-for-like. We consider that
like-for-like provides useful additional information to reported
revenue as this enables performance of the Group to be measured on
a consistent year-on-year basis.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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