DIXONS Carphone has shrugged off fears of a high street slowdown after posting a strong set of results for the fourth quarter and raising its profit guidance for the year.

The electrical and telecoms retailer said it expects profit to come in at between £445 million and £450m, 17 per cent more than last year. UK like-for-like sales rose 4 per cent in the quarter and 6 per cent over the full year,

Chief executive Seb James said consumers were “ready to spend” but had become more canny.

Across the group, which also operates in Scandinavia and southern Europe, like-for-like sales rose 5 per cent.