DSGi Interim Statement

Back in November, DSGi published its Interim Statement for the 24 weeks to 17th October. Group sales were down by 1% [4% on a like-for-like basis]. But sales in the Nordics were up by a remarkable 22% [although just 11% on a like-for-like basis], while everywhere else, apart from the e-commerce business, DSGi's sales were down. As the Interim Statement explains:

The Nordic business is the preferred operating model for the Group. Management continues to simplify the business, taking out costs and reducing complexity. The efficient central operating structure and strong market shares have enabled Elkjop to leverage margin and exploit its strong market positions and gain market share from distressed competitors.

In other words, DSGi's business in the Nordics has been aggressive with its discounting policy, to the detriment of some of its weaker competitors.