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Dixons Carphone reported flat like-for-like sales in its fiscal first quarter as falling mobile market revenues kept a lid on growth.
For 13 weeks ended 27 July 2019, revenue was flat on both a reported and like-for-like basis.
A decline in mobile phone revenue offset growth in its international business and 'white goods.'
UK & Ireland mobile like-for-like revenue fell 10%, electricals like-for-like revenue was up 2% and International like-for-like revenue rose 4%, with 4% growth in Nordics and 7% in Greece.
The company left its guidance unchanged.
'In Electricals we continued to grow and win market share in all territories and customer satisfaction further improved. The Mobile market is as challenging as expected, underlining the need for the decisive actions that we set out in June. We remain committed to growing Electricals sales and headline profits in UK & Ireland and International this year, and to this being the trough year for Mobile losses,' said Alex Baldock, Group Chief Executive.
'The current political and economic climate is volatile but, assuming no material disruption from that, we stand by our full year guidance, as we do our longer-term commitments on EBIT margin and cashflow.'
At 8:06am: (LON:DC.) Dixons Carphone share price was +1.8p at 115.7p