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Firms put faith in merger to transform UK homes

Annual results from merger partners Carphone Warehouse and Dixons Retail Group — owner of Currys and PC World — will provide more details on the prospects for their new and enlarged company on Thursday.

The firm will be called Dixons Carphone and aims to plug into the way technology is transforming modern households. The deal, which is worth £3.6 billion, is set to be completed in September.

Dixons head Sebastian James will be chief executive of the new group, which will have combined sales of £12 billion and more than 43,000 staff across Europe. The firm will run almost 3,000 stores, with more than 1,300 in the UK.

Earnings at Stagecoach are expected to gather steam when the bus and South West Trains rail operator posts its full-year results on Wednesday. Investec analysts expect the Perth-based group to post pre-tax profits of £180.1 million, up from £171.6 million a year ago.

Carpetright executive chairman Lord Harris of Peckham will present his last set of annual results tomorrow at the retailer he founded 25 years ago.

The business, which warned over profits for the third time in nine months in March after admitting it has yet to benefit from the housing market recovery, is expected to post annual profits of £4.5 million.

Toy firm Hornby's supply chain and foreign exchange difficulties are set to hit the business when it reports its full-year results on Friday.

The Margate-based company said in April that it would break even, compared with a small profit of £200,000 last year. But a foreign exchange loss of £200,000 would bring an overall deficit of £1.2m.

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