May 24, 2017

Dixons Carphone says consumers keep spending

Sales at mobile phone retailer Dixons Carphone rose 4% for the year to April despite what it calls "a lively political backdrop". Dixons now expected annual pre-tax profits to be between £485m to £490m. Chief executive Seb James said Brexit had not changed consumer behaviour. Revenues for that period fell 1%. Mr James said: "We anticipate no let-up in very rational view that price and service are critical factors in deciding where to shop." Shares in Dixons Carphone rose 3.6% in morning trading in London but have fallen by a quarter over the past 12 months. Analysts at Liberum described the trading update as "Solid" and that Dixons Carphone remained their top pick in the UK retail sector with a "Buy" rating.

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