Dixons Carphone like-for-like revenue flat

Dixons Carphone update

Dixons Carphone has said that full-year profits are set to be in line with expectations after posting flat like-for-like revenue in the first quarter.

The electricals retailer said World-Cup fever boosted demand for consumer electronics throughout for the 13-week period ending July 28, which made up for a weaker performance in white goods and computing.

However, it continued to struggle in its mobile segment after it saw a one per cent drop in like-for-like revenue.

While like-for-like revenue was flat and total revenue rose 13 per cent, Dixons Carphone maintained its full year profit before tax guidance of around £300 million.

The retailer’s UK & Ireland market also recorded flat like-for-like revenue, while reported revenue fell two per cent.

“First quarter performance was in line with expectations. We’ve maintained or grown our leading market positions, and our full year profit before tax guidance of around £300 million remains unchanged,” group chief executive Alex Baldock said.

“We’ve made good progress in setting a clear long-term direction for the business, one that sharpens our focus on the core, and that better joins up both our offer to customers and our business behind the scenes.

“I look forward to giving a fuller update on our plans and progress in December.”

The news comes after the retailer issued a profit warning in May, while it continues to recover from a PR crisis following revelations of a wide-reaching data breach.

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