Dixons Carphone see 10pc rise in profits

The retailer saw pre-tax profits rise to £501 million in 2016/17 compared to £457 million in 2015/16

Dixons Carphone has announced pre-tax profits of £501 million for the 12 months up to April 29, a year-on-year increase of 10 per cent.

Total revenue for the retailer stands to £10.58 billion, compared to £9.73 billion over the 2015/16 financial year.

Dixsons Carphone ended the financial year with £6.55 billion of revenue in the UK & Ireland, taking £385 million in pre-tax profit compared to £371 million last year.

The rest of the world accounted for £4.03 billion in revenue, equating to £132 million of pre-tax profits before costs are taken out.

Profits after tax stand at £389 million, a £42 million rise on last year with shares in the company worth 3.6p more than last year, standing at 33.8p.

Dixons Carphone group chief executive Seb James said: “Over the last few years a great deal of work has been done to make the company stronger, lower risk and ore resilient.

“We are seeing the upside of these efforts now as we declare record headline profits before tax of over half a billion pounds.

“While the UK consumer environment seems to be holding up for us, there will undoubtedly continue to be changes in the way people buy all of the products that we sell from phones to washing machines.”