Dixons 'To Benefit' From Comet As Sales Rise

This year's summer of sport gives Dixons Retail Group a boost in the UK, as it prepares to benefit as a result of Comet entering administration.

In the UK, like-for-like sales at the retailer - which owns Currys and PC World - were up 3% for the six months to October 13.

The company said it expects its market position in the UK to go "from strength-to-strength" following the collapse of its rival Comet, which called in administrators earlier this month.

"While there may be some disruption while Comet completes the 'fire-sale' of its stock in the short term, Currys and PC World will benefit from the consolidation and we look forward to re-investing further gains into the offer for customers," Dixons said in a statement.

It came as the group reported a loss before tax, including one off charges, of £79.5m - compared with a profit of £2.4m over the same period last year.

When these exceptional charges are deducted, its underlying loss before tax narrowed from £25.3m to £22.2m.

Dixon's chief executive, Sebastian James, said the company had made good progress in the first half of the year.

"I am particularly encouraged by our performance in the UK and Ireland and in Northern Europe and we were particularly busy during the sporting and cultural events during the summer," he said.

"While August and September were, as expected, a bit quieter, we remain cautiously optimistic about the outlook."

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