City File: Dixons
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.STANLEY KALMS of Dixons will this week reveal quite how lousy an acquisition Silo has been for the electrical stores group. The US operation has probably lost pounds 23m in the last year, on top of a pounds 17m deficit in the previous year.
Assuming Dixons books its pounds 10m of property profits on its Brussels office development, group pre-tax profits are likely to be pounds 80m, up from pounds 70.3m.
Most of the bad news on Silo is already in the shares. The UK Dixons and Currys shops continue to churn out a healthy 5 per cent like-for-like sales growth. And Mr Kalms may have good news on the performance of PC World, the recently bought computer stores. But the shares look fully priced at 19 times expected earnings. Hold.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments