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Dixons blames mobile phone sales for poor results

Not making the cash registers ring...
Written by Kate Hanaghan, Contributor on

Not making the cash registers ring...

Dixons' share price took a beating for a second consecutive day after the electrical retailer turned in disappointing financial results, which were partly caused by poor mobile phone sales.

The company's share price today fell six per cent to 224.75p during early morning trading.

While pre-tax profit was up 68 per cent to £87.4m during the six-month period ending 10 November 2001, this figure was at the lower end of expectations. Revenue for the Dixons Group, which includes Currys and PC World, was up 2.3 per cent to £2.2bn.

The company's CFO argued that results would have been better if mobile phone sales were excluded from the results. Ian Livingston described it as an "OK performance".

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