Dixons chief executive John Clare wondered ?what you have to do to boost the share price? when it tumbled yesterday, despite a 53 per cent half-year increase in profit at the electrical retail group. PC World and the Link communications chain were major contributors to the group?s 24 per cent increase in turnover. Shares fell by five per cent, closing down 27p at 511p, partly reflecting City disappointment with Dixons? predictions for Christmas revenues, which will be part of the Q3 report, to be announced in April. Although Clare said sales in the eight weeks leading up to 4 January were up 20 per cent on last year, his statement was less spectacular than many had hoped. He said Christmas trading was ?above our budgets and we have had a very strong start to the January sales?, but it was not enough to delight investors. Interim pre-tax profit rose by 53 per cent to #57.5 million on sales up 24 per cent to #1.06 billion. The Dixons high street chain increased sales by 12 per cent to #294 million and PC World almost doubled sales to #183 million.
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