Dixons Carphone shares plunge on mobile phone woes

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Shares in Dixons Carphone have plunged by a quarter after it reported a full-year loss and predicted more pain for its mobile phone business this year.

The retailer lost £259m in the year to 27 April, compared with a pre-tax profit of £289m last year.

Sales fell by 1% to £10.43bn.

The company added that it was set to take “more pain” in the coming year amid “a deterioration in the forecast performance of the UK & Ireland mobile business”.

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