DSG profits drop by 30%
Last updated 11:43, Thursday, 26 June 2008
DSG International, the electrical retailer which owns Dixons, PC World and Curry, announced a 30 per cent drop in underlying full year profit this morning.
The results were in line with the update the company released to the market in May when the company also cut its dividend by 50 per cent. Looking ahead, the company remains very cautious on the outlook for consumer spending and will therefore focus on reducing costs further and managing cashflow. The shares opened up 0.75p at 45.75p.
Regent Inns stated today that takeover talks for the group had ceased, as potential purchasers failed to obtain the necessary financing due to the credit crunch.
