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Business

Published on June 22nd, 2018 | by The GC Team

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Dixons Carphone chief “confident” in long-term prospects

Dixons Carphone has reported annual pretax profits of £382 million – down from £500 million in 2016/17 – as per the Group’s trading statement at the end of May in which it announced the closure of 92 stores.

Group revenue for the year to 28th April rose 4% to £10.5bn on a like-for-like basis, with the UK & Ireland accounting for £6.6bn of this – a like-for-like rise of 2% on 2016/17.

The company said that challenges in the UK mobile market continued – fewer upgrades and contractual constraints – and the margin in electricals was impacted in the second half largely by category and channel mix.

Business in the Nordics and Greece fared better with respective revenue rises of 9% and 11%.

Group Chief Executive Alex Baldock, who joined the company just over two months ago, said: “I’m delighted to be at Dixons Carphone, in a business with so many strengths, and with so much more to go for. Recent events have underlined that we have plenty of work to do, and it will take time, but I’m even more confident than the day I took the job in our long-term prospects.

“We’re number one, maintaining or growing share in each of our markets, with people and scale multichannel capabilities no competitor can rival.

“We can make more of these strengths by bringing clear long-term direction that sharpens our focus on our core, and that better joins up both our offer to customers and our business behind the scenes. There’s nothing here that can’t be done, and we expect top and bottom-line benefit of doing it.”

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Get Connected is the top trade journal for the UK electricals industry. Its website is the fastest, most interesting and up to date in the business.



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