sunny.png
Wednesday June 26th, 2019 6:17PM

Top UK cellphone seller blames weak pound for profit warning

By The Associated Press

LONDON (AP) — Shares in Dixons Carphone PLC, one of Britain's most visible high street brands, have slumped by nearly a third after the company warned that its profits this year would be lower than expected, largely because the fall in the pound since last year's vote to leave the European Union has prompted customers to hold on to their handsets for longer.

In early Thursday trading in London, the company's share price was down 29 percent at 1.61 pounds.

In a statement, the company said it has seen a "more challenging" environment in the British cellphone market. It said that was mainly due to currency fluctuations making handsets more expensive.

Since last year's Brexit vote, the pound has fallen by around 15 percent against its main competitors, including the dollar.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Economy
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Charlottesville, DOJ to host 'community recovery' town hall
Charlottesville residents are getting a chance to talk with city officials about a white nationalist rally earlier this month that devolved into deadly violence
4:40AM ( 3 minutes ago )
Within 24 hours, a pair of wildly different Trump speeches
Within a 24-hour span, President Donald Trump delivered one speech in which he tore into the media and members of his own party, and then a second in which he called for national unity and love
4:16AM ( 27 minutes ago )
Republican agenda threatened by Trump-McConnell feud
President Trump's clash with his own party's Senate leader threatens to undermine Republican agenda at high-stakes moment
4:07AM ( 37 minutes ago )
Associated Press (AP)
US Navy: Body found by Malaysia not one of McCain's missing
The U.S. Navy's 7th Fleet says a body found by Malaysian forces is not one of the sailors missing after a collision between the USS John S. McCain and an oil tanker
3:11AM ( 1 hour ago )
Qatar restores diplomatic ties to Iran amid regional crisis
Qatar has restored full diplomatic relations with Iran, ignoring the demands of Arab nations now trying to isolate the energy-rich country
2:19AM ( 2 hours ago )
Lucky numbers for $758.7M Powerball jackpot drawn
Lottery players across the U.S. scooped up $2 Powerball tickets in hopes of beating the odds and winning a massive $758.7 million jackpot in Wednesday night's drawing.
1:53AM ( 2 hours ago )
AP Business
Within 24 hours, a pair of wildly different Trump speeches
Within a 24-hour span, President Donald Trump delivered one speech in which he tore into the media and members of his own party, and then a second in which he called for national unity and love
4:16AM ( 27 minutes ago )
Republican agenda threatened by Trump-McConnell feud
President Trump's clash with his own party's Senate leader threatens to undermine Republican agenda at high-stakes moment
4:07AM ( 37 minutes ago )
The Latest: Trump calls for patriotism, national healing
President Donald Trump is calling for patriotism and national healing as he praises veterans at an American Legion conference in Nevada
4:05AM ( 39 minutes ago )
Gulls: Winningest team in San Francisco Bay Area baseball
The Oakland Athletics and San Francisco Giants are experimenting with unconventional measures to keep away large flocks of gulls that fly in from the coastline and circle their San Francisco Bay Area ballparks in search of leftovers.
4:00AM ( 43 minutes ago )
Dutch police detain suspect in concert terror threat
Dutch police arrested a 22-year-old man in the early hours of Thursday in their investigation into a terror threat that prompted the cancellation of a Wednesday show by an American rock band in this port city
3:57AM ( 46 minutes ago )