Currys owner Dixons hit by large one-off costs

Image caption, The group said its store transformation programme was on track

Electrical goods firm Dixons Retail has announced a pre-tax loss of 拢224.1m for the year to April, after taking into account some large exceptional items.

It took a 拢309.4m impairment charge after closing operations in Spain and writing down the value of its Greek arm and its online business Pixmania.

Excluding the charge, the firm, which owns Currys and PC World, made profits of 拢85.3m, in line with expectations.

On Wednesday, Kesa, which owns rival Comet, announced a 拢9m annual loss.

'Ups and downs'

Dixons Retail said group like-for-like sales were down 2% on the year.

Despite the impairment charge taken, Dixons chief executive John Browett told the 大象传媒 he did not regret the company's operations in southern Europe.

"We make more than half our profit and sales outside the UK," he said.

"Like any portfolio business, you are going to have some ups and downs."

In the UK, underlying profit rose slightly to 拢71.3m from 拢71.1m a year ago.

The group is currently undergoing a store transformation programme, which includes some megastores that bring the PC World and Currys brands together under one roof.

Mr Browett said there were now more than 30 such stores open in the UK, which were proving "very very popular with customers".