UK Sparks: Dixons Carphone Issues Another Profits Warning
Dixons Carphone has warned that this year’s profits will be lower than expectations, due to a “significant loss” at its UK mobile phones business. The group now expects to make headline profits of £210m, with “growth thereafter as transformation benefits feed through”. For the 12 months to April 27, Dixons announced a full-year loss of £259m, due to £557m in charges, mostly non-cash impairments relating to the UK mobile market. Underlying pre-tax profits fell by 22% from £382m to £298m, while group revenues slipped by 1% to £10.4bn.