Despite sales only rising marginally in its last financial year, Dixons showed pre-tax profits of £133 million up to the end of April. That’s a rise of 53 percent compared to the pre-tax profits of £86.6 million in the year before.
The profit bump comes as it prepares to merge with Carphone Warehouse – it also showed significantly larger pre-tax profits for its financial year. The European Commission said yesterday that it had approved the merger.
Part of Dixons’ profitability comes down to the fact that it sold what it describes as “non core” units during the period. It also cut costs by £45 million in the period.
Sebastian James, Dixons’ Group’s CEO, said that the company is in “robust financial health”. He said he’s excited about the Carphone Warehuse merger.