Dixons Carphone swings to £45 million of pre-tax profit in fiscal H1

In a report on Wednesday, Dixons Carphone plc (LON: DC) said that it concluded the fiscal first half with a pre-tax profit. The company attributed its hawkish financial performance to strong electrical sales. In a report published in July, Dixons had reported a 50% decline in annual profit.

Dixons Carphone plc was reported more than 10% up in premarket trading on Wednesday. The stock jumped another 2% on market open. On a year-to-date basis, Dixons shares, which you can learn to buy stocks in, are now just under 15% down in the stock market.  

Dixons Carphone reports £4.86 billion of revenue

For the six months that concluded on 31^st October, Dixons reported £45 million of pre-tax profit. In comparison, it had registered £86 million of pre-tax loss in the same period last year. On an adjusted basis, its pre-tax profit in fiscal H1 stood at £89 million versus the year-ago figure of a sharply lower £2 million.

In separate news from the United Kingdom, BP revealed to have taken a majority stake in U.S.-based Finite Carbon.

Dixons also said on Wednesday that its revenue in the first six months of the current financial year printed at £4.86 billion as compared to a lower £4.71 billion in H1 of last year. The British multinational said its comparable electricals sales jumped 17% in the first half. On a year over year basis, electricals digital sales posted an over 100% growth in the recent period.

Dixons says performance in H2 to date remained robust

The electricals and telecommunications retailer said its performance in H2 to date remained robust. In the six months that concluded on 12^th December, Dixons added, its like-for-like electrical sales says were up 16% versus the comparable period of last year, despite the new COVID-19 restrictions that pushed its stores again into temporarily shutting down in Greece and the United Kingdom.

The FTSE 250 listed company said on Wednesday that its mobile loss on an adjusted basis before interest and taxes was expected to be slightly worse in fiscal 2021 than the previous year. Cash flow from mobile, it further added, was also likely to come in slightly negative. Dixons forecast £175 million of transformation cash costs on Wednesday.

Dixons performed fairly upbeat in the stock market last year with an annual gain of a little under 20%. At the time of writing, it is valued at £1.46 billion.