Dixons Carphone Shares Slide on Profit Warning

FTSE 100 firm has made a loss for the last financial year, warned on next year's profits and cut its full-year dividend by 40%

James Gard 20 June, 2019 | 10:50AM
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Warning sign

FTSE 100 mobile phones and electronics giant Dixons Carphone (DC.) is the latest blue-chip company to warn on profits and cut its dividend following a slump in its phone business.

Pre-tax profit dropped 38% from £382 million to £236 million in the last financial year. With restructuring charges overhanging from the merger of Dixons and Carphone in 2014 taken into account, the group made a loss of £320 million. The company warned that pre-tax profits for the next financial year will be around £210 million, a drop of 11% and below market forecasts.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
iShares UK Dividend ETF GBP Dist740.01 GBP0.37
Jupiter UK Growth I Acc297.70 GBP0.55Rating
Temple Bar Ord1,106.03 GBP0.55Rating

About Author

James Gard  is content editor for Morningstar.co.uk