Home Business News Dixons Carphone reports £440m loss in six months

Dixons Carphone reports £440m loss in six months

by Purvai Dua
12th Dec 18 9:45 am

Struggling Dixons Carphone slumped to a £440m loss in the first half of its financial year.

The statutory pretax loss for the 26 weeks to Oct. 27 reflected the booking of £490m of exceptional charges, mainly related to goodwill in its mobile phones business. It posted a pretax profit of £54m a year earlier.

The group, which trades as Currys PC World and Carphone Warehouse in Britain, said revenue in its first half rose 1 per cent to £4.89bn, with like-for-like sales up 2 per cent.

Updating on strategy CEO Alex Baldock said the group would focus on its core electricals business, on revitalising its mobile phones business and on growth opportunities in online and credit. “We believe that Dixons Carphone is now on the path to sustainable success,” said Baldock, who joined the company in April and has been critical of previous management.

Dixons Carphone said its UK and Ireland mobile phone business saw flat like-for-like sales compared to the same period last year and recorded an underlying loss.

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