Electricals retailer Dixons Carphone opted not to pay a final dividend for its financial year ended in May after strong online sales failed to offset underperformance of its mobile unit and a lockdown hit to store sales, halving annual profit. Dixons also did not issue an outlook after its adjusted pretax profit for the year fell to £166 million from £339 million last year, with UK and Ireland mobile sales slumping 20 per cent. “Since the year-end, all our electricals businesses have continued to grow sales. Where our stores have reopened we’ve performed well, while continuing to see strong online sales growth,” chief executive Alex Baldock said. Mr Baldock, however, pointed to a weakening of consumer spending later this year, while peer AO World said on Tuesday that it expects demand for online shopping to continue even after the reopening of brick-and-mortar stores.

Source: The Irish Times July 15, 2020 07:18 UTC