DSG, the UK high street electricals chain, has found a buyer for its Polish division after a nine-month sale process.
The company announced this morning that it has sold Electro World Poland to IDMSA Brokerage House. The price tag of just €1 will do little for DSG's bottom line, but chief executive John Browett must be pleased to have the eight stores off his hands.
Browett also told the City that DSG had made a good start to the current financial year, despite like-for-like sales in the UK and Ireland slumping by 14%:
Our Nordic business is performing strongly, the UK transformation continues on plan with the refurbished stores continuing to outperform and the Italian turnaround is starting to deliver.
One reason for the slide in UK and Ireland sales was that PC World suffered "significantly lower levels" of sales to business customers.
There's not a great deal of other corporate news this morning. Hargreaves Lansdown, the investment management firm, reported a 20% rise in pre-tax profits to £73.1m in the 12 months to the end of June - despite last year's falling stockmarkets.
Chief executive Peter Hargreaves warned, though, that the difficult times are not over.
We have no illusions that we can rest on our laurels. Markets are still nervous and we expect more turbulence. We are conscious that some revenues we have enjoyed in the past will be materially reduced.
And online gaming group 32Red said it has attracted 9,733 new players to its casino offering, but still saw overall revenues slide by 11% in the downturn.
