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Last Updated: Wednesday, 28 November 2007, 07:58 GMT
Laptop surplus hits Currys owner
Rebranded store
DSG is cautious looking ahead
The owner of Currys and PC World saw half-year profits fall 26% after poor performance at its PC World and its Italian business, UniEuro.

Electrical retailer DSG International saw underlying pre-tax profits hit 52.4m down from 70.3m in the first six months to 13 October 2007.

Overstocking of laptops and hardware at PC World contributed to "disappointing" results, it said.

The firm also highlighted the uncertain outlook in many of its markets.

"The economic fundamentals make it difficult to extrapolate trends into the rest of the financial year," said the firm, adding that it was "appropriate to be cautious about the consumer environment".

Sales of flat screen televisions helped its like-for-like electrical sales rise 6% in the UK and Ireland, and grow 4% in Scandinavia but continuing problems in Italy saw them slip by 3% in southern Europe.

Overall like-for-like sales increased 5% over six months.

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