
The group drops its profit predictions for the year following lower than expected sales
DSGi has lowered its profit expectations by £40 – £50 million for the year, following disappointing sales over the Christmas period. For the 11 weeks ended December 29th 2007, like for like sales dropped by one per cent, which the group claims is down to generally weaker consumer markets.
“Overall trading for this important period, in which over half our annual profits are usually generated, has been disappointing, particularly in the UK, Italy and Spain,” said John Collins, Group Chairman of DSGi. “This weaker trading, together with a more cautious outlook for the balance of the year, means that we now expect full year profits before tax to be some £40 – £50million lower than current expectations. The UK and Ireland Electricals business saw stronger demand in the post Christmas sale period. This was driven by promotions around flat panel televisions, laptops and digital imaging, negatively impacting gross margin for the period.”
Following the news, shares in DSGi dropped by 20 per cent this morning.
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Complaint
Maybe the reason for the downward trend for DSGI is the faiure to satisfy customers like myself who has been waiting a year for satisfaction on a complaint about my laptop.
Numerous E Mails. a letter to the General manager of the Edinburgh store (Corstorphine) months ago still waiting on a reply. A letter to the Managing Director (Mr Peter Keenan0 at sheffield 2 weeks ago still no reply. Still have a dodgy laptop. How many other customers like me who will not shop ever again at P C World
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