The Channel logo


By | John Oates 3rd January 2008 09:43

Dixons shares spanked after profit warning

Share price down a fifth

Dixons Store Group International saw its shares fall more than 20 per cent this morning after the company admitted Christmas trading had been poor.

DSG International told the London Stock Exchange today that trading was down one per cent on a like-for-like basis.

Group chairman Sir John Collins said: "Like for like sales were down one per cent reflecting generally weaker consumer environments across many of our markets. Overall trading for this important period, in which over half our annual profits are usually generated, has been disappointing, particularly in the UK, Italy and Spain.

"This weaker trading, together with a more cautious outlook for the balance of the year, means that we now expect full year profits before tax to be some £40m to £50m lower than current expectations."

UK computing sales were disappointing with laptops selling poorly in the run up to Christmas. Games consoles and digital photo frames were among the better selling items.

Online sales through and FotoVista did much better - up 31 per cent.

DSG International is a major computer and electrical retailer and trades as Currys, PC World, PC World Business, and ElectroWorld, among other brands. ®

comment icon Read 20 comments on this article alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.