Shareholders gain £200m as Dixons creates 2,000 jobs

Electrical
retailer Dixons is to create 2,000 new jobs across Europe – 1,000 in the UK –
and return £200m to shareholders.

It
made the announcement as it reported an increase in year-end pre-tax profits of
33 per cent to £366.2m.

Dixons,
which also owns Currys and PC World, said its programme of store expansion
would create the posts.

The
cash for the investors’ bonanza has come from the disposal of Wanadoo shares
and the sale of Codic International, which has given it a "strong balance
sheet".

Group
chief executive John Clare said the new financial year had begun in line with
expectations.

He
pointed out that while it was too early to forecast for the year as a whole, he
believes the group is "well placed for a year of further progress".

By Mike Berry

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