Dixons Carphone, Britain's biggest consumer electricals and mobile phone retailer, says it is confident it will continue to grow its market share even if the vote to leave the European Union leads to an economic downturn.

The company, which trades as Carphone Warehouse, Currys and PC World in Britain and Ireland, has been one of the worst-hit stocks following last week's Brexit vote, given its exposure to big ticket electrical items and potential vulnerability to any fall-off in demand.

But finance chief Humphrey Singer said UK sales had actually increased since Britons to quit the bloc. "In the four days after the referendum, sales were up . . . so the world keeps turning," he told reporters after Dixons Carphone reported a 17 per cent rise in 2015-2016 profit and raised its total dividend by 15 per cent.

He also said the company would not change plans to invest about £250 million across the business in 2016-2017.“Near-term uncertainty may impact sentiment [and] consumer confidence, but business fundamentals remain strong,” Investec analyst Alistair Davies said.

Chief executive Seb James also sought to reassure investors. “As the strongest player in our market and despite the volatility that is the inevitable consequence of such change, we expect to find opportunities for additional growth and further consolidate our position as the leader in the UK market.”

Mr Singer said experience of financial crises, in Britain in 2008 and in Greece, where it trades as Kotsovolos, gave it confidence. “The strong do well in these situations,” he said. “We’ll continue to compete very aggressively and there might be some smaller, less strong competitors, who will find it harder to react if there is indeed any kind of downturn.

He said it sourced more than 90 per cent of products sold in Britain in sterling, limiting its exposure to the currency’s post-Brexit slide versus the dollar. – (Reuters)