Electronics concern Dixons Carphone reported a loss in what was the company’s first earnings statement since it was formed from the merger of Dixons and Carphone Warehouse in May.
The company recorded a pre-tax loss of £20 million in the six months ended Nov. 1, including merger costs. Excluding these costs, profit before tax rose 30% to £78 million. Like-for-like sales were up 5%.
The company acknowledged that sales on Black Friday had meant some purchases had been brought forward but Finance Director Humphrey Singer noted that was “the new pattern of Christmas trading” and that margins had remained good.
The company also reported that some 20% of the company’s head office staff would be leaving. Chief Executive Officer Seb James said that many of those affected did not want to make the move to new offices in Acton – the relocation is expected to be completed by October. However the company noted it could potentially add a net 800 jobs as it expands.
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The Guardian, p. 29
