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Pledge to create 3000 jobs from Dixons

Strong results will help continued growth, retailer says

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Dixons will create 3000 jobs after recording a nine per cent rise in pre-tax profit to £237.1 million. The pre-tax profit for the year ended 1 May 1999, compared to £217 million for the previous year, was slightly ahead of analysts’ forecasts of between £230 million and £235 million. Turnover was up 13 per cent to £3.1 billion. Retail operating profit before exceptional items was up four per cent to £201 million. 116 shops were opened or re-sited, providing an extra 650,000 square feet of retail space. Dixons said it had created around 3,000 jobs over the period, and intended to match that number this year. Sir Stanley Kalms, Dixons' chairman, said the group had had an encouraging start to the new financial year. Current like-for-like sales were ahead across the group’s retail brands, he said. "The Group is particularly strongly placed to take advantage of the considerable opportunities available to all our retail brands and Freeserve arising from new technology, the growth of the Internet and ecommerce. We will maximise our efforts to exploit these unparalleled opportunities," said Kalms. Falling consumer confidence had hampered a number of the group’s markets in the first half, according to a company statement. Sales had improved in the second half, but with strong downward pricing pressures. ®

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