Dixons Retail achieves underlying profit for the first time in 6 years, with group earnings before interest and tax (EBIT) reaching £48.1 million with 52% Y-o-Y growth during fiscal H1 2013 (6 month period ending October 2013).
UK and Ireland profits grow 5-fold to £31.4m, while UK sales grow by 7% Y-o-Y to £1.85 billion.
The retailer attributes at least part of such results on the the exit of a number of competitors, most notably Comet at end 2012, as well as the disposals of "profit drag[s]" PIXmania (France), Electroworld (Turkey) and Unieuro (Italy).
"Quite apart from removing a significant profit-drag on the business, these changes mean that we can really focus on new and exciting opportunities to do more for our customers and suppliers, and on working more closely to drive tangible benefits from being part of our group," CEO Sebastian James remarks.
Dixons also sees positive results in the Nordics with sales reaching $1.4bn with 3% Y-o-Y growth. Greek Kotsovolos sales fall by -14% Y-o-Y to £139.6m, even if the retailer sees growing marketshare despite what it calls "gusty headwinds."
As for the future, the retailer will continue trialing a number of new outlets, including a high street format store in Bluewater and a CurrysPCWorld 2-in-1 superstore, as well as roll out the Elkjøp rebrand in Finland and Sweden.
