Dixons Carphone interims a hit with markets

The price of shares in FTSE 250 electronic goods retailer Dixons Carphone (LON:DC.) has climbed by 6.90% to 141.05p (as of 13:45 GMT) after the company’s H1 statutory pre-tax loss narrowed by 86%. Revenues for the six months dropped by 4%, but management said that the firm was on track with cost savings and reiterated their medium term guidance.

CEO Alex Baldock commented: “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.

“And we’ve taken important strides in our transformation. It’s easier for customers to shop how they want: we’re now gaining share Online as well as in stores, where we are investing to create exciting, enticing stores. More customers can also afford the tech they want: we now won’t be beaten on price, and more are taking up our Credit offer. More, too, are getting the most out of their tech through our Services.

“Mobile is challenging as expected. As promised, this will be the trough year for Mobile losses, and it will be break-even by 2022.

“Good progress, yes, but all of us at Dixons Carphone are shareholders, and conscious that our business is still nowhere near its full potential. We’re determined to realise that potential, and confident we’re on the right path to do so“.