Wednesday preview: Dixons Carphone reports full year results

Dixons Carphone is expected to report on Wednesday an increase in pre-tax profits on the back of market share gains in its mobile phones and electricals business.

In a May trading update on the group’s fourth quarter, the company forecast full year pre-tax profit of £445m to £450m, compared to its previous guidance in January of £440m-£450m and an increase of about 17% over last year.

The retailer said UK like-for-like sales rose 4% in the fourth quarter and 6% in the full year. Group like-for-like sales increased 5% in the last quarter.

Chief executive Seb James said growth in the group’s mobile phone business in the UK was particularly strong and there was a good performance across all of the company’s businesses.

“Overall, the group looks set to deliver a solid year of underlying pre-tax growth, confirming that its strengthened market position and exposure to buoyant consumer electronics categories should drive premium earnings growth within a lacklustre sector,” said Numis analyst Matthew Taylor.

“The shares have outperformed the peer group by 5% over the past 12 months and trade on 12.4x price to earnings ratio to calendar year 2017.”

Numis has pencilled in pre-tax profit of £445m for the full year against the consensus forecast of £446m and the previous year’s £381m.

Wednesday 29 June

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AFH Financial Group

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Dixons Carphone , International Greetings, Stagecoach Group, Torotrak

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