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.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.