Dixons Carphone profits plummet as it warns of ‘more pain’
Dixons Carphone’s profits shrank by nearly a quarter last year and the retailer has warned of “more pain in the coming year.” Pre-tax profits were down 22% from GBP382 million to GBP298 million in the year to 27 April 2019 as UK and Ireland mobile sales shrank 11% to GBP1.99 billion.
The group made a statutory loss after tax of GBP320m, having made a statutory post-tax profit of GBP166 million the previous year. The domestic electricals market was healthier than mobiles with sales up 1% GBP4.47 billion. International sales rose 5% to GBP3.96 billion, driven by the Greek market.