StockMarketWire.com - Electronics retailer Dixons Carphone posted another annual loss, blaming the cost of closing mobile phone stores and the Covid-19 crisis hurting sales.

Pre-tax losses for the year through March amounted to £140m, compared to losses of £259m on-year, as revenue dropped 3% to £10.17bn.

Adjusted profit more than halved to £166m, down from £339m and around £44m below company guidance that had been reiterated in January.

The company did not declare a dividend.

Dixons was forced to restructure its business after people stopped upgrading their smartphones as often, crunching sales in its mobile division.

On its outlook, the company said it was closely monitoring external forecasts and was prepared for a range of economic outcomes.

'Due to the high levels of uncertainty we are not issuing guidance on electricals sales or profits for the 2021 financial year,' it said.

Still, it forecast UK and Ireland operating losses to be 'slightly worse', due to the impact of Covid-19 on trading -- and as a result of reaching breakeven six-to- 12 months later than previously expected.

'Since the year end, all our electricals businesses have continued to grow sales,' chief executive Alex Baldock said.

'Where our stores have reopened we've performed well, while continuing to see strong online sales growth.'

'That said, we expect a weakening of consumer spending later this year and are being cautious in our planning.'

At 8:08am: [LON:DC.] Dixons Carphone PLC share price was -1p at 85.5p



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