DixonsCarphone sees profits halve due to lockdown

By Ismail Mulla

Published 15th Jul 2020, 07:58 BST

Updated 15th Jul 2020, 08:00 BST

Electricals retailer DixonsCarphone has seen annual underlying profits more than halve after a hit from lockdown store closures and worse-than-expected sales in its mobile arm.

The group reported underlying pre-tax profits of £166m for the year to May 2, down from £339m the previous year.

On a statutory basis, it saw group pre-tax losses of £140m, but this was narrowed from losses of £259m the year before.