Revenue drop in line with predictions
Dixons Carphone CEO Alex Baldock has insisted the retailer is “on track to deliver what we promised this year,” despite a dramatic fall in its mobile revenues in H1 2019.
Dixons Carphone’s mobile revenue in the UK and Ireland was £830 million, an 18 per cent decrease from £1.009 billion the year before.
Its overall business saw revenue for the half year stand at £4.71 billion, down from £4.89 billion annually. In the UK and Ireland, this was 1.98 billion, down from £2.0 billion. Profits fell annually from £60 million to £24 million.
In a statement, the company said that the mobile loss was in line with its guidance for a £90 million loss this year.
Baldock said: “We’re on track to deliver what we promised this year, and with our longer-term transformation.
“In a tough UK electricals market, we’ve gained significant share, and strengthened our market leadership. Our planned investments in the colleague and customer experience have played a big part in this resilient performance, demonstrated by sharply increased customer satisfaction scores. Our big international business also registered market share gains in every territory, with solid sales and margin improvements.
“Mobile is challenging as expected. As promised, this will be the trough year for mobile losses, and it will be break-even by 2022.”