Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Dixons Carphone PLC (DC.)

  Print      Mail a friend       Annual reports

Thursday 24 August, 2017

Dixons Carphone PLC

Dixons Carphone plc Trading Statement

RNS Number : 8375O
Dixons Carphone PLC
24 August 2017
 

Dixons Carphone plc

 

Trading Update

(13 weeks ended 29 July 2017)

 

·      Continued good performance in electricals in the UK & Ireland, Nordics and Greece

·      Challenging conditions in the UK mobile phone market

·      Receivables revaluation, largely EU roaming legislation related, expected to be negative this year

·      Recent honeybee business model changes expected to lead to lower earnings this year

·      As a consequence of these combined factors management now expect to deliver Group Headline PBT for 2017/18 in the range of £360m to £440m with core trading profitability in line with last year

 

Q1 2017/18 revenue

Reported

revenues

% change

Local

currency

% change

Like-for-

like  

% change1

   UK & Ireland

1%

1%

4%

   Nordics

17%

8%

8%

   Greece

16%

7%

6%

   CWS

(24)%

(25)%

n/a

   Group

6%

3%

6%

                 Note: In the UK & Ireland, like-for-like revenues in the quarter improved by approximately 5% as a result of sales successfully transferred

                 from closed stores and sales disruptions. This mainly benefited UK&I electricals, where like-for-like revenues grew 7%.

 

Seb James, Group Chief Executive, said:

"As you can see from our trading statement, we continue to trade well in all geographic markets with like-for-like sales up 6% across the Group. It is good to see this performance from our UK electrical business particularly against the Euros football championship last year, as well as strong sales from our Nordic and Greek businesses. In all of these markets we have seen growth in revenues, market share and profitability with overall product margins remaining flat in electricals.

 

However, over the last few months we have seen a more challenging UK postpay mobile phone market. Currency fluctuations have meant that handsets have become more expensive whilst technical innovation has been more incremental. As a consequence, we have seen an increased number of people hold on to their phones for longer and while it is too early to say whether important upcoming handset launches or the natural lifecycle of phones will reverse this trend, we now believe it is prudent to plan on the basis that the overall market demand will not correct itself this year. Over the longer term we believe that the postpay market will largely return to normal but in the meantime we have taken a conscious decision to invest in our margin and proposition to maintain market share and scale so we remain in a strong position as the market leader when this happens.

 

Whilst this investment will cause a shortfall in profits for our phone business we do however expect overall profit in our core retail operations to be in line with last year supported by good progress in our UK & Ireland, Nordic and Greek electrical businesses.

 

As we highlighted at the full year results, we have, over recent years, reported a number of one-off adjustments, particularly related to our large mobile network debtor. Historically these items have mostly been net positive to the business, but, largely caused by changes in EU roaming legislation, we now believe that the outcome is likely to be net negative this year. While it is difficult with the limited data currently available to assess the precise impact of these changes, we currently estimate that the net negative effect will be a range of between £10m and £40m this year. In total, the one-off adjustments contributed a net positive, and largely non-cash, effect of £71m last year.

 

Additonally, we have recently decided to change the way in which we are selling our honeybee software product with a move towards software-as-a-service rather than upfront sales as we believe that this will create a business with more sustainability and higher value in the longer term. It will, however, have an impact on this year's reported profitability. Last year we sold a significant upfront contract to Sprint which will not be repeated this year, and all our new contracts are following the new model. As a result, we expect CWS this year to generate limited profits overall.

 

Taking the above factors into account, as well as the disposal of our Spanish business, we now expect the Group's Headline PBT for 2017/18 to be in the range of £360m to £440m." 

 

 

Investor and analyst call

There will be a conference call for investors and analysts at 7:30am BST (8:30am CET) this morning.

Dial-in details - UK/International: +44(0) 20 3059 8125; passcode: 7878697

Seven-day replay - UK/International: +44(0) 121 260 4861; passcode: 6901668

 

Next announcement

The Group will publish its interim results on Wednesday 13 December 2017.

For further information

Kate Ferry

IR, PR & Corporate Affairs Director

+44 (0)7748 933 206

Mark Reynolds

  Head of Investor Relations

+44 (0)7979 696 498

Hannah Collyer

  Head of Media Relations

  +44 (0)7834 256 775

Tom Burns, Helen Smith

  Brunswick Group

  +44 (0)207 404 5959

Information on Dixons Carphone plc is available at www.dixonscarphone.com

Follow us on Twitter: @dixonscarphone and @DCSebJ

 

About Dixons Carphone

Dixons Carphone plc is Europe's leading specialist electrical and telecommunications retailer and services company, employing over 41,000 people in nine countries. Focused on helping customers navigate the connected world, Dixons Carphone offers a comprehensive range of electrical and mobile products, connectivity and expert after-sales services from the Geek Squad and Team Knowhow.

Dixons Carphone's primary brands include Carphone Warehouse and CurrysPCWorld in the UK & Ireland, Elkjøp, Elkjøp Phonehouse, Elgiganten, Elgiganten Phone House, Gigantti and Lefdal in the Nordic countries, Kotsovolos in Greece, Dixons Travel in a number of UK airports as well as Dublin and Oslo. Our key service brands include Team Knowhow in the UK, Ireland and the Nordics, and Geek Squad in the UK & Ireland.

Business-to-business (B2B) services are provided through Connected World Services, CurrysPCWorld Business and Carphone Warehouse Business. Connected World Services aims to leverage the Group's existing expertise, operating processes and technology to provide a range of services to businesses.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 Like-for-like revenues are calculated based on Headline store and internet sales using constant exchange rates. New stores are included where they have been open for a full financial year both at the beginning and end of the financial period. Revenues from franchise stores are excluded and closed stores are excluded for any period of closure during either period. Customer support agreement, insurance and wholesale revenues along with revenue from Connected World Services and other non-retail businesses are excluded from like-for-like calculations. Revenues from Carphone Warehouse stores-within-a-store are included in like-for-like


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTDGGDISDDBGRX

a d v e r t i s e m e n t