Profits rise for Dixons

Consumers continue spending at Dixons group

The UK's top consumer electronics retailer Dixons has seen its profits rise, even as mobile phone and PC sales fall.

The owner of PC World, electrical appliance chain Currys and The Link mobile phone shop saw pre-tax profits rise 7% to £297.2m in the year to the end of April.

Strong demand for home appliances at Curry's helped the company's profits, as did PC World's growing market share.

The PC store managed to grow market share, even as the market fell 21%.

Falling sales

This helped offset falling mobile phone sales - which fell 33% on the previous year.

Fears that Dixons profits might be hit by rising interest rates and a slowdown in consumer spending has hit the company's shares hard.

In the past three months, shares have fallen 20%.