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Dixons upbeat on summer sales

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Dixons has reported better than expected trading figures for the summer.

Although like-for-like sales in the UK were flat, some analysts had expected a drop in revenues. International like-for-like sales for the UK's biggest electrical goods retailer grew 3 per cent.

Group retail sales for the 18 weeks to 6 September advanced 19 per cent compared to the same period last year and grew 1 per cent on a like-for-like basis.

Gross margins were also up slightly.

For the first time, the figures include the performance of UniEuro, the Italian electrical retailer Dixons acquired last year.

In a statement chairman, Sir John Collins said: "While it is too early to extrapolate these trends for the balance of the year, the Group is well placed for a year of progress."

Part of Dixons performance could be attributed to the fact that it shifted more than 30,000 fans in just three days in August as the UK sweltered in the summer heatwave.

By mid morning shares in Dixons were up 6.5p (4.74 per cent) at 143.5p. ®

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