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Dixon's Carphone shares slip on profit warning



(Adds stock price, deal closures, analyst commentary, and profit warning details.)

Dixons Carphone PLC (DC.LN) Holdings Plummeted Tuesday After Pointing to Gains for Both Fiscal Years 2018 and 2019 Due to Higher Costs 19659002) The retailer also said it plans to close 92 Carphone Warehouse stores this year

For the year ended April 28, Dixons said it expects its pre-tax pre-tax profit to be £ 382 million (508.6 Million dollars) without disposing of his honeybee unit. This compares to the £ 50m reported by Dixons in the 2017 fiscal year and its previous pre-tax profit guidance of £ 365-385m.

The company announced that sales in the 2018 fiscal year increased 3%. Sales increased by 4%.

For fiscal year 201

9, Dixons anticipates a pre-tax profit of approximately £ 300 million. The company announced a decline in the UK electricity market and some cost increases, such as the UK Living Wage, for the new financial year, as in the 2018 financial year.

Dixons' international business led to similar revenue growth "For the fourth quarter of fiscal 2018, sales increased 8% in the Nordic countries and 10% in Greece," the company said.

The Company completed the sale of its honeybee business in May and announced that it will not cash

The Board intends to hold the annual dividend for the 2018 financial year at 11.25 pence, the company said.

The new Chief Executive Alex Baldock said that there is "a lot to fix" but that it "fixes everything."

"Right now, with our international business in good shape, we are focusing early on in the UK, and in electrical, we are focusing on the gross margin recovery, stabilizing our performance through improvements to our offering and network agreements We work hard to improve our cost-effectiveness and we will not tolerate our current performance in the mobile sector or as a group, "he said.

AJ Bell's Investment Director Russ Mold said investors could forgive Mr. Baldock the pain caused by Tuesday's "shock-gain warning" when he can "fix" his claim that the problems the company is facing. "

However, Mr. Baldock must" do it right, as it is unlikely that there will be a second way to justify expectations in this way ", Mr. Schimmel

At 1135 GMT, the shares of Dixons were 41, 25 pence or 18% at 192.15 pence.


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