Retailers & Distributors

Dixons Carphone Drops The Phone House Portugal

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Dixons Carphone offloads another European unit in efforts to further focus on profitable markets as it sells The Phone House Portugal to regional telecoms retailer and wholesaler Digital Place SA.

Dixons CarphoneThe Phone House Portugal operates 130 stores. It also reports post-restructuring losses of £8 million for the 13 month period ending May 2015, as well as an impairment worth £13m.

The asking price? A "small cash consideration" and a "contingent deferred cash consideration measured against profitability and payable over 5 years."

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"Excellent" First Year for Dixons Carphone

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Dixons Carphone describes the first year following the merger of the two retailers as "excellent," with revenues growing by 6% and pre-tax profit increasing by 21% from £316 million to £381m in the 13 months from May 2.

Dixons CarphonePartly helping such growth is the panic buying of big-ticket items such as large-screen TVs in crisis-stricken Greece, leading to the return to profit of Greek arm Kotsovolos. The retailer also reports strong performance in the UK (Carphone Warhouse, Currys and PC World chains) and the Nordics (Elkjop and El Giganten).

As for cost-cutting exercises the year saw the disposal of the group's non-core French, German, Dutch and Portuguese operations.

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Ingram Adds to Mobility with Canai, Clarity

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Ingram Micro expands further into mobility device lifecycle services through the acquisition of a pair of European services companies, namely UK-based Canai group and Portugal-based Clarity Technology.

Ingram MicroThe financial details of the acquisitions are not available.

Canai is a provider of technology recycling services and white-label product, while Lisbon-based Clarity specializes in repairs, parts, diagnostics and reverse logistics for laptops, mobile phones, modems and other peripherals.

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Dixons Offloads The Phone House Netherlands

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Dixons Carphone disposes of a majority 83% stake in The Phone House Netherlands as it sells it off to Relevant Holdings, a company formed by the shareholders of Dutch telco and mobile services retailer Optie1.

Phone HouseRelevant Holdings operates 70 Optie1 stores, together with 145 Phone House stores obtained through the deal. Meanwhile Dixons Carphone retains a minority stake, and will provide customers with insurance and technical support.

“I am delighted to announce this partnership for Phone House Netherlands, alongside a long-term contract for the provision of insurance and technical support services, through our Connected World Services division," Dixons Carphone CEO Sebastian James says. "Optie1 is an experienced telecom and retail company, making it the perfect partner in this market."

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Dixons Sells The Phone House Deutschland

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The Phone HouseDixons Carphone manages to sell off The Phone House Deutschland to mobile network provider Drillisch AB, following a "significant" restructuring for the German business.

Once the deal is finalised (by end May 2015, the retailer says) Dixons Carphone will receive 3% of Drililisch in shares by way of payment, with potential further deferred payments from future excess cash flows.

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