Feeds

Dixons shares tumble despite profit surge

Keeping mum about Freeserve

  • alert
  • submit to reddit

High performance access to file storage

Dixons saw its share price fall today despite topping profit forecasts.

The PC retailer's share price fell six pence in morning trading to 274 pence after it failed to reveal details of trading for the current financial year or any fresh information on the Freeserve situation.

Pre-tax profit rose 104 per cent to £472.1 million for the year ended April 29 2000, on the back of a 23 per cent increase in sales to £3.89 billion. Analysts had predicted £255-262 million.

Profit before exceptionals, tax and Freeserve were up 11 per cent £263 million. Gross margin fell one per cent over the year.

Regarding Freeserve, the company only repeated what was said on June 26 - that the two "continue to have discussions with a number of parties about a variety of potential transactions".

In regard to current trading, Dixons revealed no more than: "The new financial year has started with further sales growth against tough comparatives."

Last month the company confirmed that T-Online had pulled out of a deal to buy Freeserve. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.