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May 29, 2018, 2:42 a.m. EDT

Dixons Carphone warns on fiscal 2019 profit

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By Dimitrios Kontos

Dixons Carphone PLC (DC.LN) said Tuesday that it expects fiscal 2018 headline pretax profit to be about 382 million pounds ($508.6 million), excluding the disposal of its honeybee unit, and guided for a lower figure in fiscal 2019.

The retailer of electricals and phones in January had guided for headline pretax profit, which strips out exceptional and other one-off items, of between GBP365 million and GBP385 million.

The company said its revenue for the year to the end of April rose 3% from the previous period while like-for-like revenue increased 4%.

Dixons's international business led revenue growth, with like-for-like revenue for the fourth quarter growing 8% across the Nordics and 10% in Greece, the company said.

It concluded the sale of its honeybee business in May and said there will be a non-cash write-off associated with the transaction.

The board intends to maintain the full-year dividend at 11.25 pence, the company said.

Dixons said it expects its international businesses to reinforce its market-leading positions in fiscal 2019 and is budgeting for a contraction in the U.K. electricals market, where it also expects some cost increases.

Dixons anticipates group headline pretax profit for fiscal 2019 to be about GBP300 million, it said.

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