Dixons Stores Group sales for the 18 weeks to 4 September 2004 were eight per cent up on the same period last year and five per cent up on a like-for-like basis. UK sales were up nine per cent or seven per cent like-for-like. Currys and PC World both performed well.

But gross margin at the the UK's biggest electrical retailer, fell 0.4 per cent because of more business-to-business sales and "lower credit commissions".

John Clare, chief executive, gave the trading update at the firm's annual general meeting. He said the firm is well placed for a "year of progress". Dixons sales performance showed "encouraging signs of recovery from last year's levels, and The Link continues to perform well in a growing market" .The company announced in April it was closing 106 under-performing stores. ®

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