DSG RETAIL Ireland, the company behind Currys and PC World, made a pretax loss of €9 million in the year to the start of May 2009, as revenues from the sale of electronic goods fell sharply, according to accounts just filed at the Companies Office.
The company recorded turnover of €166 million over the period, down 20 per cent on the €209 million turnover it reached in the previous 12-month period. The pretax loss of just over €9 million marks a reversal of fortune for the firm: in the year to the start of May 2008 it secured a pretax profit of more than €12 million.
The company’s distribution costs increased to €3.8 million during the year. However, the average number of employees fell back from 778 to 759 during the period, and staff costs fell 10 per cent to €18.1 million.
Dixons said it was “conscious of the effects of wage and price inflation on its cost base and the need to keep such costs under control in order to maintain profitability”.
During the period, DSG Retail opened two new stores. In January of this year, the company said it would create 100 jobs as it opens new stores and begins redevelopment at existing stores.
It is planning to change its store format to a “two in one” model. The format will have the Currys and PC World brands combined under one roof and trading under a joint brand name. Currys had formerly traded as Dixons.
