This seems a bit odd - can anyone shed light on this?
Dixons have no trades showing on DXNS has the epic changed or something?
Cheers for any input
:>)

AGREEMENT TO DISPOSE OF WEBHALLEN

Dixons Retail plc, Europe's leading specialist multichannel electrical retailer and services company, announces that agreement has been reached to sell Webhallen, a subsidiary of PIXmania S.A.S, to Komplett AS, a Norwegian based e-commerce company for a cash consideration of approximately SEK140m. Webhallen, based in Sweden, predominantly sells media, games and related products from 10 stores as well as online. The transaction is expected to complete by the end of May.

Following the sale last month of Equanet, this transaction is another step in rationalising Dixons Retail's portfolio. It forms part of the company's commitment to refocus its PIXmania business on its key strengths, putting it on a firmer strategic footing.

Sebastian James, Chief Executive of Dixons Retail commented: "We continue to explore ways to put Pixmania in a better strategic position. Following a material reorganisation of the business earlier this year, I am pleased that we can confirm another small but significant step in that process today with the disposal of the Webhallen operation in Sweden."

Ole Vinje, Chief Executive Officer of Komplett AS commented: "We are very pleased that Webhallen will be joining the Komplett Group. This acquisition will further strengthen our position in Sweden and Scandinavia. We find Webhallen's multi-channel strategy very interesting with a view to further development."


- Ends -

Good chance of 50p next week imo.

Espirito Santo Execution Noble Buy 36.64 35.29 30.00 42.00 Upgrades

Deutsche Bank Buy 36.06 35.10 36.00 41.00 Retains

Espirito Santo Execution Noble Buy 36.05 36.17 42.00 42.00 Reiterates

Full Year Trading Statement - 16th May.

Preliminary Results - 20 June 2013.

Trading Statement

· Multi-channel businesses (UK & Ireland, Northern and Southern Europe) delivered encouraging performances throughout the year with like for like sales up 7% in the full year.
· Strong cash generation has enabled us to achieve a year-end net cash position for the first time in a number of years putting the Group in an even stronger financial position.
· In the fourth quarter we saw very pleasing momentum in these multi-channel businesses delivering like for like sales up 11%:
· UK & Ireland traded very well benefitting from a stronger offer for customers and achieving our aim of gaining more than our share of the market following the demise of competitors resulting in like for like sales up 13%;
· Northern Europe also saw very good growth with like for like sales up 14% and further market share gains;
· Southern Europe performed well given extremely difficult market conditions with like for likes down 5%.
· Trading at PIXmania continues to be very challenging. We have taken a number of actions through the year:
· Full management control of the business taken in August 2012;
· Significant restructuring, exiting from almost half of the countries in which it operates, closure of all stores, exiting non core categories and significantly reducing headcount;
· Disposals of Webhallen and PLS agreed for a total consideration of approximately £15 million;
· Work continues to resolve the strategic positioning of the business.
· Group gross margins down 0.7% in the full year, driven largely by product mix as well as our continued drive for even better value for customers.
· Group Full year underlying profit before tax expected to be at the top end of market expectations of £75 million to £85 million.
· The annual non-cash defined benefit pension financing costs of £7.4 million will be reclassified as non-underlying meaning that the consensus range of expectations for the financial year ending 30 April 2013 will rise to £83 million to £93 million.

Excellent.

Just hit the line in post 109.

City A.M. ‏@CityAM 1m
Dixons predicts year profits at top end of forecasts .........

http://ow.ly/l5epY

Shares Magazine ‏@SharesMag 4m

Dixons soars on impressive profits and cash - read our story:
#.UZSXOrU3tJQ … #DXNS

http://www.sharesmagazine.co.uk/news/dixons-soars-on-impressive-profits-and-cash

From above post.....

Stockbroker Panmure Gordon says Dixons is clearly gaining share in the UK and sees ‘significant future profit opportunity’ as it benefits from the demise of rivals including Comet (which it reckons could add £30 million to earnings before interest and tax) and eliminates losses overseas. ‘There is also the added bonus of cash on the balance sheet a year earlier than expected.’ It has a 45p price target.

Cantor Fitzgerald sees the biggest value creation opportunity to be the turnaround of the estimated £58 million of PIXmania and Southern European losses in its forecasts over the next few years. It retains a 42p price target.

16 May Dixons Retail PLc DXNS Espirito Santo Execution Noble Buy 39.33 36.51 42.00 42.00 Reiterates

SP Target......42p

Espirito Santo Execution Noble Buy 40.20 42.00 45.00 Reiterates

Citigroup Buy 40.20 30.00 50.00 Upgrades

Deutsche Bank Buy 40.20 41.00 44.00 Retains

JP Morgan Cazenove Neutral 40.20 28.00 33.00 Reiterates

17 May Dixons Retail PLc DXNS Espirito Santo Execution Noble Buy 40.12 40.00 42.00 45.00 Reiterates

Numis Hold 40.18 - 40.00 Reiterates

Making new highs - 41+p

Just out.....

17 May Dixons Retail PLc DXNS Citigroup Buy 41.15 40.00 30.00 50.00 Upgrades

SP TARGET 50p

See post 122! :-)