Dixons Carphone reports 6 percent jump in Christmas revenue

Carphone Warehouse And Dixons Agree £3.8bn Merger

He has been credited for the Shop Direct's five consecutive years of rising sales and profits, including the underlying pre-tax profits jump of 10.2 per cent to £160.4 million and revenues increase of 14.6 per cent to £1.26 billion in the fiscal year ending July 1.

Shares rose 1.205 to 190.20p in morning trading.

Alex Baldock said: "I can't wait to get started at Dixons Carphone".

Ian Livingston, Chairman of Dixons Carphone plc, said: "Seb has made an outstanding contribution to both the creation and success of Dixons Carphone".

He detailed a "strong sales period" for the United Kingdom mobile business thanks in part to better availability of the iPhone X, but said current market conditions meant that "gross margins continue to be challenged in phone".

Mr James has led the company since it was created by the merger of Dixons Retail and Carphone Warehouse in 2014 but will now take charge of chemist chain Boots.

Dixons Carphone's Christmas update comes after the retailer's interim results in December revealed tumbling profits, almost halving in the first six-months of its fiscal year.

The best performing regions were Greece and the Nordics, which delivered LFL revenue growth of 23% and 11% respectively. The firm also showed like-for-like growth of 3% in the United Kingdom and Republic of Ireland.

"Looking forward we continue to keep our antennae twitching for any material change in consumer behaviour, but remain relentless in our focus on providing the best value, choice, and service to our consumers", Mr James said.

"For the remainder of this year we have a early Easter, a new Samsung phone and the first week or two of our World Cup promotion to look forward to". That compares with a previous forecast of 360 million to 400 million pounds given in December.

Neil Wilson, senior market analyst at ETX Capital, said the remarks about making the group a simplier, less capital intensive model "most certainly means for store closures".

Commenting on his appointment, James said: "I am very excited to be joining Walgreens Boots Alliance at this time in its history, and to have been offered the privilege of leading Boots, surely one of the UK's most iconic, venerable and trusted brands".

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