Dixons Carphone profit slumps 22% and warns of big fall this year

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Dixons Carphone profits slump in fast-changing mobile market

FILE PHOTO: A sign displays the logo of Dixons Carphone at the company headquarters in London

LONDON (Reuters) - Dixons Carphone, Britain's biggest seller of electricals and mobile phones, reported a 22% fall in full-year profit, reflecting a tough mobile phone market, and warned of another big fall in the current year.

The group, which trades as Currys, PC World and Carphone Warehouse in the UK, said it made an underlying pretax profit of 298 million pounds in the year to April 27. That compared to company guidance of around 300 million pounds and was down from 382 million pounds made in 2017-18.

It said underlying pretax profit was expected to be around 210 million in 2019-20, with growth thereafter as the benefits of its turnaround plan feed through.

(Reporting by James Davey, Editing by Paul Sandle)

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