Dixons Carphone

Ticker DC.

Today's data summary

Market closed
% change
-0.33%
Price Pence
149.50
Change
-0.50
As of 13:11 22 Apr 2019
Market cap. Pound sterling
1,734.51 million
As of 13:11 22 Apr 2019

Latest updates

Dixon Carphone statement

Dixons Carphone says there is no change to its financial outlook from today's FCA fine as it had already set money aside for the possible fine from the Financial Conduct Authority.

Alex Baldock, chief executive, said: "We're obviously disappointed that Carphone Warehouse fell short in the past. But we're a very different business today; as the FCA acknowledges, we've made significant improvements since 2015. We're committed to stay on that trajectory, and to make sure all customers enjoy the right technology products and services for them".

BreakingCarphone Warehouse fined £29m

The Financial Conduct Authority has fined Carphone Warehouse £29m for failings that led to the misselling of mobile phone insurance and technical support known as Geek Squad.

It follows an investigation sparked by whistleblowing reports, the FCA said.

During the period under investigation (1 December 2008 to 30 June 2015) The Carphone Warehouse made regulated sales of Geek Squad policies worth over £444.7m, the FCA said.

Dixons Carphone boosted by overseas business

Dixons Carphone
SOPA Images / LightRocket

Dixons Carphone has reported a 1% like-for-like rise in revenues for the 10 weeks ending 5 January 2019, citing tough trading conditions in the UK.

The retailer was particularly hit by a decrease in mobile phones sales, which declined by 7% like-for-like.

However, the retailer was boosted by strong sales at its international stores, seeing a 5% rise in revenues like-for-like, as well as increased demand for supersized TVs and gaming, which offset losses in UK retailing.

As a result, Dixons Carphone said its full-year guidance of £300m remained unchanged.

FTSE up

The FTSE-100 index is up around 30 points at 6,834.

In the FTSE 250 index there are some big movers.

Carphone Warehouse's shares are down 14%.

Dixon Carphone profits crumble

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DIXONS CARPHONE

Dixons Carphone has made a profit of £50m - ahead of the £45m forecast by analysts by down from £73m the same time a year ago.

But, that is if you strip out one-off items, as on a statutory basis the company has reported a £440 m loss, compared with £54m a year earlier.

Those are first half numbers.