Dixons Carphone profits short-circuit as transformation costs bite

Dixons Travel store Heathrow

Dixons Carphone has recorded a slump in pre-tax profit exacerbated by sliding mobile sales, but boss Alex Baldock says the retailer’s transformation plan is “on track.”

The electricals retailer posted a 60% drop in adjusted pre-tax profit to £24m in the half-year to October 26 as group sales fell 4% to £4.7bn.

On a statutory level, the retailer narrowed pre-tax losses to £86m from £440m during the same period the previous year.

UK and Ireland electricals revenue dipped 1% during the period to £2bn with flat like-for-like sales. The retailer’s electricals performance was aided by online growth of 11% in the category.

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