Irish division bucks Dixons-Carphone downward profit trend

The Irish arm of electronic goods and mobile phone retail giant Dixons-Carphone grew sales by almost 11% last year. That result outperformed the Irish market and provided upside to the UK group which saw total yearly profits slump by 22% and revenue fall 1% to £10.4bn (€12bn).

Dixons Carphone shares pared back losses to close down 5%, but initially fell 28% to a 10-year low after the group said profit for this year would also disappoint and be nearly a third lower than market expectations. The group actually reported a statutory pre-tax loss of £259m, reflecting charges of £557m, primarily non-cash impairments relating to the changing UK mobile market that were detailed in December.