Dec 13, 2017

Dixons Carphone climbs on mobile unit rejig

British electricals retailer Dixons Carphone will overhaul the way it sells smartphones as it battles falling demand among consumers to upgrade handsets, a trend that contributed to a sharp slide in first-half profits. Its shares rose more than 8 per cent in morning trade in London after Dixons' management pledged a revamp at the mobile unit that would cut costs and improve profitability, while also signalling a shift in sales strategy. "We are doing a lot of work in repositioning our mobile business to deliver a simpler, less capital intensive, more profitable business," chief executive Seb James told analysts. The group did not specify exactly how and when the mobile phone business would be overhauled, but said it would update investors "In due course". Like-for-like sales in the UK and Ireland mobile business fell 3 per cent in the six months, but it reported a brisk performance in its electricals unit, where like-for-like sales rose 7 per cent in the half-year compared with the same period in 2016.

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