Dixons Carphone profits tumble as coronavirus closures hit bottom line
Dixons Carphone has suffered a slump in full-year profits as sluggish performance in its mobile phone business and store closures sparked by coronavirus impacted its bottom line.
The electricals giant posted a 51% drop in adjusted pre-tax profit to £166m during the 53 weeks to May 2.
On a statutory basis, Dixons Carphone narrowed its losses to £140m, compared with £259m a year ago, despite the costs incurred by closing its standalone Carphone Warehouse stores in the UK.
In its core UK and Ireland division, Dixons Carphone recorded a 1% uplift in like-for-like sales and total revenue, although adjusted EBIT dropped 10% to £162m.
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