Dixons Carphone sees massive slump in profits

Just a week after admitting a massive data breach, troubled retailer Dixons Carphone has today reported a 24 per cent slump in annual profit and said it has “plenty of work to do” in turning around the group’s performance.

The troubled British electricals and mobile phone retailer has made an underlying pretax profit of £382m for the year to April 28, from £500m a year earlier.

New chief executive Alex Baldock has been critical of previous management, saying the business was suffering from underinvestment in customer service which needed fixing: “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.”