The U. K. electrical group Dixons Retail PLC revealed the huge loss it has suffered in Greece and Spain markets.

Dixons stated on its site that its Greek operations are about to end and the assessment of the Spanish business was also disclosed. The Spain market has provided the loss of GBP224.1 million, whereas the same country had helped last year by the profit of GBP112.7 million. The sales were down to down 2%.

Royal Philips Electronics, an electronics manufacturer gave out the profit caveat, by adding Kesa Electricals PLC and Home Retail Group PLC as the growing companies.

On the other hand, Dixon’s Chief Executive, John Browett said to a newspaper, “The group is taking market share from its competitors in the U. K. that are only now overhauling stores and improving service--measures that Dixons has taken for several quarters already”.

Dixons sales at U. K. and Ireland business have gone down by 5% to GBP3.82 billion, whereas its original exert effect stayed untouched at GBP71 million. The total loss felt by Dixons was GBP239 million, whereas the profit last year was GBP59.8 million.

Also, the shares of Dixons were fixed at 17 pence and the valuing of the company was GBP600 million, on Thursday.