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DSG International Plc Ordinary 2.5p (DSGI)

Sell : 33.07p | Buy : 33.30p | up 0.14p
Prices as at 08:18:20 on 15-03-10

Company overview

DSG Intl is Europe’s largest electrical goods retailer. The company has more than 1,400 stores across the UK and Europe. It trades as Currys, Dixons and PC World in the UK and Ireland, while various local brand names are adopted across a wide area of Europe.

HL Comment (14 January 2010)

DSG International (formerly Dixons Group) enjoyed generally positive Christmas trading. The group’s recent trading update (14Jan2010) saw underlying total group sales up by 11pc, with like-for-like sales rising by 8pc. Progress was generally made across the group’s brands and territories, with online sales rising by 16pc for the period. The one area of disappointment proved to be the company’s UK PC World business, with reduced business sales outweighing the additional demand which the launch of Windows 7 brought.

Negative Points
  • Management stressed caution with regards to the 2010 outlook for Europe, particularly the UK.
  • A temporary reduction in VAT has now ended, with other potential tax increases likely to be aired in the run-up to a UK general election.
  • No dividend payment is currently being paid.
  • The group’s international portfolio still encompasses many of the debt stretched Southern European countries (Greece, Italy and Spain).
  • US electrical giant Best Buy is soon to commence operations in the UK.
  • The decline in the pound is adding to many product costs, manufactured and imported from the Far East.

Positive Points
  • A transformation plan appears to be aiding performance – many stores have been revamped. Furthermore, the group remains on track to deliver £50m of cost savings this year, part of a £200m targeted 4 year programme.
  • Recent sales trends have continued to improve.
  • A multi-channel sales approach is being pursued.
  • A successful fund raising has aided group debt reduction.
  • Despite restructuring, the group still enjoys geographical diversification.
  • The wider economy has shown signs of stabilizing, with growth in unemployment levels recently slowing.

Consensus
On balance, market consensus opinion currently denotes a strong hold.

All yield figures are variable and not guaranteed.

What the Brokers Say

  • Heatbar summary of What the Brokers Say
    Strong
    Sell
    Strong
    Buy
  • Strong Buy: 7
    Buy: 1
    Neutral: 5
    Sell: 0
    Strong Sell: 2
    Total: 15

This is not a recommendation, it represents the consensus view of a basket of brokers. If less than 5 brokers it may not be a valid consensus. HL might not concur and takes no responsibility.

Report & Accounts

All report and accounts are provided by SharesLibrary.

By downloading either the annual or interim report you are confirming you are happy to receive content from SharesLibrary, which is not provided or issued by Hargreaves Lansdown.

Important dates

Past events

Trading Announcement 14-01-2010
Interim Results 26-11-2009
AGM 2-09-2009
Trading Announcement 2-09-2009
Final Results 25-06-2009
EGM 18-05-2009
Interim Results 27-11-2008
Interim Results 23-10-2008
Trading Announcement 23-10-2008
Final Dividend Payment Date 26-09-2008
AGM 3-09-2008
Final Ex-Dividend Date 13-08-2008
Final Results 26-06-2008
Trading Announcement 14-05-2008
Interim Dividend Payment Date 25-01-2008


Fundamental Data

Year Ending Revenue
(m)
Profit Before Tax
(m)
EPS
(p)
P/E Ratio PEG EPS Growth
(%)
Total Dividend Dividend Yield
02-05-2009 8,364.60 (140.40) (12.47) 32.00 n/a (90.00) n/a n/a
03-05-2008 8,488.00 (184.10) (15.58) 5.20 n/a 635.00 5.45 10.70
28-04-2007 7,929.70 114.10 1.33 89.40 n/a (86.00) 6.54 5.50
29-04-2006 7,072.00 302.90 8.63 14.70 3.70 4.00 6.23 4.60
28-04-2006 6,984.40 295.90 8.26 15.30 1.50 10.00 6.23 4.60

Latest DSGI Director Deals

Traded Action Notifier Position Price Amount Value
1-03-2010 Buy Andrew Lynch Non-Executive Director 31.04p 30,000.00 £9,312.00

Any Overview and Comment is provided by Hargreaves Lansdown. What the Brokers Say, Important Dates and Financials are supplied by Digital Look Ltd. Prices delayed by at least 15 minutes.



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