FTSE LIVE: Sterling on the rise ahead of BoE rate decision; Dixons Carphone profits hit by sim-only trend; Dunelm cheers wet weather
- Dixons Carphone full-year group profits fall 22% to £298million
- Fashion firm N Brown said sales fell 3.8% as it wound down its catalogue
- Sterling is looking much stronger today at $1.27 ahead of the BoE rate decision
- Dunelm raised its profit forecast thanks to more ‘favourable’ weather conditions
Electricals giant Dixons Carphone is still busily trying to wrap its head around how it can remain relevant in a fast-changing mobile phones market.
Falling customer demand for contracts in this part of the business dragged its full-year profits down by 22 per cent to £298million. On a statutory basis, including various one-off costs, the firm made a loss of £259million.
Meanwhile, sterling is looking a bit perkier today ahead of the latest Bank of England decision on rates. However, Brexit fears are keeping a lid on the currency’s gains.
The Bank of England MPC is expected to keep rates on hold at the latest meeting today