LONDON, September 8 (New Ratings) ““ Analyst Nick Hawkins of Merrill Lynch maintains his “sell” rating on the Dixons Group (DXNS-GBX).
In a research note published this morning, the analyst mentions that Dixons Group’s UK trading business has declined by 4% in Q4 on account of its efforts to maintain stable margins. The analyst believes that CEO John Clare’s enhanced direct control of the UK division and the higher than expected comps in May and June enabled the company to raise its final dividend by 10%. Merrill Lynch expresses concern regarding the expected steep rise in interest rates.