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Dixons Carphone UK profits take a tumble

Elliot Mulley-Goodbarne
December 13, 2017

Mobile sales for H1 in the UK have fallen three per cent after the iPhone X was released in to the second half of the group financial year

Dixons Carphone has reported a £61 million profit for the first half of the year despite year-on-year UK pre tax profits falling £58 million.

The retailer ended the first half of their financial year with £3.009 billion profit before tax compared to £3.067 billion a year ago.

After pegging back original targets for the financial year in August to £360 million to £440 million the retailer has reassessed ambitions again, this time hoping to finish on profits in the region on £360Mn to £400Mn.

Dixons Carphone explained the loss of £58 million on the year as the impact of the group revaluation that happened in after admitting that the post-pay mobile market was slowing down due to the economy and a lack of innovation.

Dixons Carphone group chief executive Seb James said: “Our interim results highlight the continuation of trends that we saw in our Q1 trading update.

“Over all we gave delivered strong free cash flow, expect to deliver full year PBT within the £360m to £400m range and the Board intends to maintain the full year dividend.”

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