Dixon Carphone shares are expected to fall by 50 per cent this week
Profits at Dixons Carphone are expected to tumble by more than 50 per cent this week as the rising cost of new mobile phones mean customers hang onto their old handsets longer.
Poor figures will place pressure on the retailer to look at overhauling its mobile phone presence on the UK high street where it has over 700 Carphone Warehouse shops.
In August, the firm was forced to suspend trading as a profit warning sent its shares plummeting by 25 per cent. Its chief executive, Sebastian James, who earned £1.6 million last year, said at the time that customers were upgrading their handsets less frequently as mobile phones become more expensive.
City analysts are preparing to see profits at the retailer, which also owns Currys and PC World, drop by 56 per cent to £63 million on Wednesday.
Courtesy: Daily Mail Online