Electrical retailer Dixons Carphone (LON:DC) saw shares rise nearly 5 percent on Wednesday, after reporting a 9 percent rise in sales and boosting profit expectations.
For the 16 weeks to April 29th the retailer saw like-for-like sales grow by 4 percent, with CEO Seb James saying the company had performed well against a “lively political backdrop”.
In an update to investors, the company said that it expects pre-tax profit for the full year to come in between £485 million to £490 million.
Chief executive Seb James said: “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.”
In the UK & Ireland, like-for-like revenues in the full year improved by approximately 3 percent as a result of sales successfully transferred from closed stores and sales disruptions, largely benefitting UK and Ireland electricals, where like-for-like revenues grew 7 percent.
The group’s activity in Southern Europe saw a particular improvement, delivering “another very good year” with full year like-for-like revenues up 6 percent.
“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”, the company said.
Shares in Dixons Carphone are currently trading up 2.85 percent at 335.91 (1724GMT).
