Dixons Carphone has reported a 21% jump in profits in its first annual results.

Carphone Warehouse and Dixons Retail merged last year, and have since reported underlying pre-tax profits of £381m in the year to 2 May, with revenues up 6% to £9.9bn.

“This has been a terrific first year for Dixons Carphone,” the firm’s chief executive Sebastian James told the BBC.

“We have seen excellent increases in both sales and profitability and we have made very encouraging progress with the tricky job of integrating these two great companies,” he continued.

Whilst Greece may be in turmoil, Dixons Carphone’s Greek branch Kotsovolos appears to be unaffected, recording an increase in like-for-like revenues, driven by a strong demand for large screen TVs.

“We have a fantastic team in Greece,” Mr James told the BBC. “They’ve been very entrepreneurial in thinking about every possible outcome, and how we would react to it.”

However, southern Europe is proving a tougher marketplace, with like-for-like sales down 5%.

Earlier this month, Dixons Carphone announced a deal with US telecoms firm Sprint, which could lead to the opening of 500 stores in the US.

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