June 21, 2018 / 6:17 AM / a month ago

UK's Dixons Carphone confirms profit slump

LONDON, June 21 (Reuters) - Dixons Carphone, the troubled British electricals and mobile phone retailer, on Thursday reported a 24 percent slump in annual profit, as expected, and said it would take time to improve the group’s performance.

The company, which issued a huge profit warning last month, said it made an underlying pretax profit of 382 million pounds ($502 million) for the year to April 28, down from 500 million pounds in 2016-17.

“Recent events have underlined that we have plenty of work to do, and it will take time,” said new Chief Executive Alex Baldock.

$1 = 0.7607 pounds Reporting by James Davey, editing by Larry King

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