Profits fall 30% for Currys owner

Currys owner" class="imageframe alignright" height="200" src="http://pictures.directnews.co.uk/liveimages/Currys_1455_18656371_0_0_7002647_300.jpg" width="200"/>DSG International reported a 30 per cent fall in pre-tax profits this morning.

The owner of Currys and PC World saw total sales up eight per cent to £8,546 million, but like for like sales rose just one per cent.

Underlying pre-tax profit stood at £205.3 million.

John Browett, DSG chief executive, said: "The group is operating in a challenging environment.

"We have lots of opportunities to improve performance and build on the group's many inherent strengths as a leading specialist electrical retailer."

The firm also reported a milestone of £1 billion online sales.

In a statement the firm predicted: "The economic backdrop continues to be difficult and the Group remains very cautious about consumer confidence in many of the markets in which it operates."