Dixons Carphone annual profits rise by 17% to £447m

Dixons Carphone has unveiled a 17% rise in annual pre-tax profits to £447m and dismissed concerns over Britain’s decision to leave the EU.

Seb James, the chief executive of the electrical and mobile phone company, said it would continue to find opportunities to grow despite the outcome of the referendum last week.

“The nation has spoken and there has been a vote to exit the EU in due course. As you can imagine, we have been giving some thought to this,” he said.

“Our view is that, as the strongest player in our market and despite the volatility that is the inevitable consequence of such change, we expect to find opportunities for additional growth and further consolidate our position as the leader in the UK market.”

Like-for-like revenue rose by 5% over the year as the Currys and PC World owner acquired a greater share of the mobile phone market. Turnover was £9.7bn.

James provided an update on the retailer’s plans to expand into the US, saying about 150 new stores would be rolled out through a joint venture with US telecoms group Sprint. The company plans to open 500 outlets in the US.

Dixons Carphone, which also has operations in Scandinavia and southern Europe, was created by a £3.8bn merger of Dixons and Carphone Warehouse in 2014.

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