Dixons Carphone plans to overhaul its mobile business after reporting pre-tax profits down to GBP 61 million for the 26 weeks to 28 October, down from GBP 154 million in the year-earlier 1st-half. Like-for-like sales at the mobile division were down 3 percent in the 1st-half, impacted by the delayed launch of the iPhone X and customers retaining their handsets for longer.
The company plans to reposition the mobile business to deliver a simpler, less capital-intensive business, and will update the markets in due course. Group reported revenue for H1 was up 3 percent to GBP 4.87 billion, from GBP 4.72 billion a year earlier, with the UK & Ireland accounting for GBP 3.01 billion, down 2 percent from GBP 3.07 billion; and the Nordics for GBP 1.67 billion, up 13 percent from GBP 1.48 billion. Like-for-like interim sales in the UK & Ireland were up around 3 percent due to sales being successfully transferred from closed stores.
Like-for-like electricals revenue was up 7 percent in the 1st-half, with growth across all markets. Dixons Carphone expects to deliver full-year headline PBT for 2017/2018 within the GBP 360 million-GBP 400 million range. The interim dividend was 3.5p, with the Board intending to maintain a full-year dividend of 11.25p.
