(Sharecast News) - Retailer Dixons Carphone maintained full year guidance as a sharp fall in mobile phone sales was offset by a rise in household electricals.
First quarter mobile like-for-like sales were down 10% in a "challenging postpay market" as consumers continued to shun new phone purchases, buying unlocked handsets instead of regularly upgrading.
"The current political and economic climate is volatile but, assuming no material disruption from that, we stand by our full year guidance, as we do our longer-term commitments on EBIT margin and cashflow," the company said ahead on its annual meeting on Thursday.
"The mobile market is as challenging as expected, underlining the need for the decisive actions that we set out in June. We remain committed to growing electricals sales and headline profits in UK & Ireland and international this year, and to this being the trough year for mobile losses."
Like-for-like sales in UK electricals rose 2%, as fridges, washing machines, tablets and gaming offset lower growth in television sales compared with the boost provided by the football World Cup last year.
International revenue was up 4% while online sales grew 14%.
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