By Carlo Martuscelli
Dixons Carphone PLC (DC.LN) said on Wednesday that profit before tax decreased by 62% in the fiscal first half and that the launch of the iPhone X pushed some sales in to the second half.
The electronics retailer and services company posted a pretax profit of 42 million pounds ($56 million) for the 26 weeks ended Oct. 28, compared with GBP111 million pounds the year before. Revenue increased 3.2% to GBP4.87 billion.
The company said that while it made record Black Friday sales across all geographies, the drive to increase sales hit profitability in its mobile segment--however this has helped maintain scale, reinforcing the company's position as market leader, the company said.
Chief Executive Seb James said that the performance of the mobile division needs addressing, but that the company is taking action to adapt to the new environment.
"We believe that we can, over time, reduce the complexity and capital intensity of our mobile business model, and increase the simplicity and profitability of what we do," he said.
Dixons Carphone declared an interim dividend of 3.5 pence, unchanged from the year before.
The company backed its guidance for fiscal 2018 headline pretax profit in the range of GBP360 and GBP440 million.