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Dixons Carphone FY slumps; warns of big fall this year

Thu, 20th Jun 2019 07:32

(Sharecast News) - Electricals and mobile phone retailer Dixons Carphone reported a slump in full year profits and warned of further falls in the current trading year.The owner of Carphone Warehouse, Currys and PC World said it expected its mobile phone division to be "significantly loss making this year".Dixons has been hit as cautious consumers change handsets less frequently and move away from costly 24 month contracts towards more flexible deals.Pretax profits fell to £298m from £382m and compared to company guidance of £300m. On a statutory basis Dixons Carphone reported a loss before tax of £259m against a profit of £289m in the previous 12 months.It said underlying pretax profit was expected to be around £210m in 2019-20, with growth thereafter as the benefits of its turnaround plan feed through.The company also took a £20m hit from a data leak last year."We expect mobile will at least break even within two years, and beyond that, equipped with a stronger and unconstrained offer, we will of course aim to do better. In any case, cash generation from mobile will be strong," said chief executive Alex Baldock.
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LONDON MARKET PRE-OPEN: Dixons Loss Narrows; PZ Cussons CEO Departs

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12 Dec 2019 07:33

Dixons Carphone reiterates guidance despite profit tumble

(Sharecast News) - Dixons Carphone on Thursday reported a plunge in interim profit as mobile phone sales slumped, but still held full year guidance.

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ThinkSmart Shares Down On Legal Proceedings Against Carphone Warehouse

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6 Nov 2019 14:34

FTSE 250 movers: Wood Group falls, M&S rallies

(Sharecast News) - London's second-tier was 0.48% lower at 20,198.20 in afternoon trade on Wednesday, with John Wood Group leading the index lower.

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5 Nov 2019 13:25

RBC Capital downgrades Next, Dixons Carphone

(Sharecast News) - RBC Capital Markets downgraded its stance on shares of Next and Dixons Carphone on Tuesday as it took a look at the European general retail sector, highlighting a preference for companies showing "structural growth".

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5 Nov 2019 11:57

Tuesday broker round-up

(Sharecast News) - HSBC: Berenberg downgrades to sell with a target price of 490p.

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