Dixons Carphone warns on profits as customers keep phones for longer

Retailer says weak pound has made handsets more expensive, meaning that fewer people are getting upgrades

Dixons Carphone has warned of a steep fall in profits this year, as customers hold on to their phones for longer after the weaker pound pushed up the price of new handsets.

In an unscheduled trading statement, the company said it expects profits in the range of £360 to 440m this year, down from £501m last year. Analysts had on average been forecasting a profit of £495m.

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