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25 Jun 2010
The VAT rise will not adversely impact the electrical retail sector, said DSG International chief executive John Browett.
Browett, boss of the Currys and PC World businesses, said that price deflation on technology products would offset the impact of the January 2011 VAT rise.
Talking to BBC Radio, Browett praised the government for its decisive action in fixing the economy.
"From our perspective, it's great to see that in the long-run the government is going to take firm action. That's got to be good for all of us in the end," said Browett.
Announcing pre-tax profits of £112.7m for 2009/2010, DSG also announced it was bringing back the Dixons name. The group will be called Dixons Retail PLC, as sentiment and knowledge of the Dixons brand is still high among its foreign suppliers.
Further reading:
Preston North End tackled by taxman
Action group calls for clarity on VAT rules for the disabled
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Briefings
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