20 June 2013 Last updated at 03:52 ET
Dixons Retail owns Currys and PC World
Dixons Retail, the owner of Currys and PC World, has reported a loss after being hit by costs from its troubled online outlet Pixmania.
It posted an annual pre-tax loss of £115.3m, after being hit by asset writedowns and restructuring charges, mainly relating to Pixmania.
However, stripping out one-off costs, underlying pre-tax profits increased by 15% to £94.5m.
Like-for-like sales increased by 4%, with good growth in UK sales.
The group has seen UK sales increase by 7% over the last year, following the demise of rival Comet in 2012. Dixons says that it now has a 21% of the electrical goods market.
The UK sales growth helped to offset the fall in sales in austerity-hit European countries such as Greece.
Source: BBC News - Business http://www.bbc.co.uk/news/business-22982383#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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