DSG to close final-salary pensions; reports better-than-expected sales

DSG to close final-salary pensions; reports better-than-expected sales

Currys and PC World owner DSG International announced that it had plans to close the final salary pension scheme, in a move that will affect as many as 2,400 of its 40,000 workers.

However, the company added that the end of the final salary pension scheme would not affect any benefits already accrued.

The scheme has already been closed to new employees.

Separately, DSG said its like-for-like sales grew by 8 per cent at Currys during the 12-week period ended January 9. The growth figure was well ahead of analysts’ projection of 2 per cent to 3 per cent growth.

Company’s CEO John Browett expects full-year pre-tax profits to remain at the top end of £60 million to £90 million.

Speaking on the issue, Mr. Browett said, “We are quite confident in saying there has been a recovery in customers’ buying behavior.”

But, like-for-like sales at the PC World plunged 3 per cent.

Shares in DSG shed 6 per cent to 35.19 pence.

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