Dixons Carphone Warehouse sees Brexit as its chance to steal march on rivals

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Dixons Carphone is plotting to profit from potential Brexit upheaval and win market share from smaller rivals.

Boss Seb James said the group’s strong balance sheet meant it had the “ability to plough on while others cannot”, creating an opportunity to cement its place as market leader.

In a “highly competitive market place”, last year it took a further 1% share in electricals and another 2% in mobiles, partly due to the demise of Phones4U. James expects the company, which also operates in the Nordics, Greece and Spain, to carry on in that trajectory.

James, a Remain supporter, said some post-Brexit volatility was “inevitable” but the firm would continue its UK roll-out of 3-in-1 stores that combine its PC World, Currys and Carphone Warehouse brands and invest in its joint venture with US telecoms giant Sprint.

His confidence comes on the back of a 17% rise in full-year pre-tax profits to £447 million and a 5% jump in sales to £9.7 billion. 

The dividend rises by 15% to 9.75p a share.

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Source Article from http://www.standard.co.uk/business/dixons-carphone-sees-leave-vote-as-its-chance-to-steal-march-on-rivals-a3284021.html

June 29, 2016 |
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