Dixons Stores Group (DSG) has unveiled a new e-commerce division, after announcing its financial results for the year ended 29 April.

The firm, which acquired online retailer Fotovista in April (CRN, 13 April) told CRN the combination of dixons.co.uk and Fotovista’s online divisions will form New Business, a pure-play e-commerce division.

Hamish Thompson, a DSG representative, said: “We will have three divisions: Electrical, Computing and New Business. Business to business is not in our plans [for New Business], but never say never. I am sure there will be some SME transactions.”

As revealed by CRN Online, DSG reported profit before tax down by nine per cent to £302.9m, compared with £332.8m last year. Turnover was up by six per cent to £7.4bn, compared with £6.9bn, including operations to be discontinued.

DSG also said it is in negotiations to sell its 60 per cent stake in The Link Stores to O2, for about £30m.

sara_driscoll@vnu.co.uk