DSG Sales Increase 6% in Advent of World Cup
DSG Sales Increase 6% in Advent of World Cup

Electrical vendor, DSG that operates the Currys and PC World series in Britain, UniEuro in Italy, Elkjop in Nordic nations and Kotsovolos in Greece, said that sales at stores open over a year rose 6% in the 28 weeks to May 1.

On Thursday, the company said that the basic group revenue before tax for the year to May 1 is projected to be in proportion to market anticipations of £80-90million.

John Browett, Chief Executive said, "Whilst we remain cautious about the consumer environment for 2010, we are looking forward to the opportunities offered by this year's World Cup".

DSG is two years into a turnaround arrangement, which has centered on trimming down costs and stocks, retailing-off bad performing businesses, overhauling stores and enhancing customer service.

The company said that it had struck a new rotating credit facility of £360million with a group of banks.

DSG shares surged 7.6% to 30.45p in Thursday morning trading.

The shares had fell 18% of their value in the last month, with shareholders worried by the entrance in the UK of American electrical seller, Best Buy and the Eurozone's monetary woes.

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