Dixons Carphone puts critics on silent

Admittedly, the Carphone Warehouse business did bring in an extra five weeks of trading on home soil, which explains the surge at its UK and Ireland division. However, like-for-like revenues still shot up 8 per cent there, as demand for electricals and mobile products showed no sign of slowing. The enlarged group also started the rollout of Carphone Warehouse stores-within-a-store, which helped to drive the like-for-like sales increase.

The company didn't come through completely unscathed. Foreign exchange movements forced revenue in the Nordic countries down 6 per cent to £2.7bn and contributed to a 16 per cent drop in cash profits there to £86m. However, on a constant currency basis, turnover actually rose 4 per cent. Currency swings also weighed on reported figures across southern Europe, and its Spanish business further struggled against a competitive market and the ongoing economic pressures in the country. Dixons Carphone closed 55 stores there last year, but a renewed focus on franchises saw 20 such stores open. Management also said the company was "very mindful" of the precipitous situation in Greece and claimed it is "very active in planning for every contingency".

Earlier this month Dixons Carphone announced a joint venture agreement with US mobile network operator Sprint. The two companies will open 20 stores across the pond as part of an initial trial. Analysts at Investec expect pre-tax profits of £445m for the year to March 2016, giving EPS of 28.6p, up from £381m and 25.5p in 2015.