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Electric goods retailer Dixons Carphone resumed its dividend after swinging to an annual profit as electric online sales surged offsetting a sales loss from pandemic-enforced store closures.
For the year ended 1 May 2021, pre-tax profit was £33 million compared with a loss of £140 million year-on-year as revenue increased to £10.3 billion.
Online sales were up 114% to £3.4 billion.
Sales in its UK & Ireland mobile business fell 55% owing to UK standalone Carphone Warehouse store closures announced in March 2020, exacerbated by 'unexpected enforced 3-in-1 store closures,' the company said.
The company restarted its dividend, proposing a full year dividend of 3.0 pence per share.
Dixons Carphone said the start of the financial year had seen continued strong trading in all its markets and touted ongoing progress with its omni-channel transformation.
'We continue to see evidence that our markets will be structurally larger post-pandemic, and that not all last year's growth was pulled forward,' the company said.
'In UK&I Electricals, our sales are up on last year, with around half of the sales through our stores, as expected. In International, our sales are trending positively against strong growth in the previous year,' it added.
Looking ahead, the company trimmed its exceptional cash costs guidance to less than £100m, down from £130 million previously guided, and said expected to maintain a net cash position at year end.