DSG International reports 30m half-year loss

DSG International, owner of Currys and PC World, has reported a half-year loss of nearly £30m. It says the slump is due to a “tough and volatile” retail environment.

The retail group reported an underlying pre-tax loss of £29.8m for the 24 weeks ending October 18, an £82.2m reverse compared with the £52.4m profit posted for the same period last year.

DSG warned the “trading environment remains tough and volatile” and that it was prepared for a “recessionary environment”, adding the outlook for peak Christmas trading and next year was “uncertain” given current economic conditions.

Group sales were up 3% to £3,468m although total sales in its UK and Ireland division were down 7% to £1.8m with like for like sales dipping 8% on last year. The division swung to an underlying operating loss of £10.6m from a £28.9m profit in the first half last year.

Within this, the group’s UK computing division, which includes PC World, was hit by a 10% slump in total sales to £696m, though the revenue decline at PC World was attributed “strong sales in the comparative period” as it cleared laptop overstocks.

John Browett, chief executive of DSG International, says: “We are focused first on trading through the current tough economic environment in which we are
prioritising cash generation as well as tightly managing stock, money margins and costs.”

Shares in the group, which has suspended its divided, dropped 7.14% this morning (27 November).

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here