Reduced loss for Dixons Retail

Currys and PC World owner Dixons Retail has predicted a tough and competitive Christmas after announcing "significantly reduced" losses.

The group made a pre-tax loss of £7.9m in the 24 weeks to 16 October 2010, compared with a loss of £17.6m in the same period a year earlier.

UK and Ireland like-for-like sales grew 2% in the most recent quarter.

Chief executive John Browett told the BBC the company "made amazing improvements in a tough environment''.