First-half profi ts at Dixons Carphone take a dive due to mobile weakness
Electrical retail giant, Dixons Carphone, has reported that the challenging market for mobile phones meant first-half profits fell by 60 per cent for the company, though it maintained its financial guidance for its full 2019-20 year.
In addition, UK and Ireland electricals revenue for the half year ended 26 October 2019 was down
one per cent, while online growth in this category was up an impressive 11 per cent. The company also reported that 81 UK stores were remodelled during this period. The group has been hurt by changes in the mobile phone market as consumers keep their handsets for longer and choose various cheaper SIM-only deals.
Dixons Carphone stuck to a
forecast for adjusted pre-tax profit of around £210 million for its 2019- 2020 financial year, 30 per cent lower than in 2018-19. It made a pre-tax profit of £24 million, down from the £60 million it made in the same period last year, on mobile revenue which was down 18 per cent. “Mobile is challenging as expected,” said CEO, Alex Baldock, in a statement. “As promised, this will
“The audio world bids farewell to a true legend”
At the beginning of December it was announced that audio pioneer, Ken Ishiwata, had passed away at the age of 72.
Mr Ishiwata spent the majority of his career – 41 years – at Marantz, before leaving in May last year. Industry colleagues and associates said he left behind “an amazing legacy and a legion of fans of his signature sound” and that the audio world bids farewell to a “true legend”.
Matthew Bartlett becomes new MD at Chord Electronics
In a restructure of its senior executive team, Chord Electronics has announced that Matthew Bartlett has been promoted to the position of Managing Director. Previously Manufacturing Director, Mr Bartlett is the company’s longest-serving employee, having started in 1990 (at age 15) and has developed an unrivalled understanding of Chord Electronics’ business, having worked in every department in his three decades with the Kent-based manufacturer.
Mr Bartlett will now oversee all day-to-day aspects of the company’s business activities. Chord Electronics’ Founder and Chief Designer, John Franks, becomes Chairman of the company. Commenting on his promotion, Mr Bartlett said: “I would like to thank John, both for the opportunity and for his vision over the past three decades, in which he has successfully transitioned the business into the best shape of its life. I am looking forward to co-developing our award-winning proprietary- technology analogue and digital offerings for both consumer and Pro Audio, as we move beyond our 30th-anniversary celebrations this year and into a new decade of innovation.”
be the trough year for mobile losses, and it will be break-even by 2022. “In a tough UK electricals market, we’ve gained significant share, and strengthened our market leadership. All of us at Dixons Carphone are shareholders, and conscious that our business is still nowhere near its full potential. We’re determined to realise that potential, and confident we’re on the right path to do so.”
Gordon Dutch leaves Peerless-AV and launches new consultancy firm
AV EMEA Managing Director, Gordon Dutch, has established
new consultancy business called BBG
Development. The new BBG business has already been involved in numerous projects for both brands, installers and retailers and offers everything from a very basic
‘assessment’ of any
business, through to project management, sales introductions and even press and PR. Mr Dutch, who has been active within the
Mr Ishiwata started his career in Europe at various tech-based brands, including Pioneer. He then joined Marantz in 1978 as a Technical Coordinator and came to prominence as a Senior Product Manager. He became the Marantz Brand Ambassador and was part of the team that developed and evolved the Marantz sound. Mr Ishiwata’s influence in the high end audio industry grew over many years and his experience and knowledge warranted universal acclaim and his opinions and views were widely reported in the world’s Hi-Fi press.
During the early 1980s, he was hugely involved in the production of the first CD players through Marantz’s collaborations with Philips. Several limited edition products came out that had Mr Ishiwata’s personal input and some even carried his name.
AV industry for over 30 years, has a long history of success both in the retail and B2B/ pro markets, creating award-winning brands that have proven the test of time and winning two lifetime achievement awards himself in the process.
In his previous role as CEO of BBG Distribution, which Mr Dutch sold to Peerless- AV back in 2009, he was responsible for all aspects of the business and, since the sale, was instrumental in evolving the business from a mainly retail distribution company into a commercial juggernaut within the EMEA region.
Mr Dutch will remain on the Peerless-AV EMEA board as a Strategic Advisor and Non- Executive role.
| Page 2
| Page 3
| Page 4
| Page 5
| Page 6
| Page 7
| Page 8
| Page 9
| Page 10
| Page 11
| Page 12
| Page 13
| Page 14
| Page 15
| Page 16
| Page 17
| Page 18
| Page 19
| Page 20
| Page 21
| Page 22
| Page 23
| Page 24
| Page 25
| Page 26
| Page 27
| Page 28
| Page 29
| Page 30
| Page 31
| Page 32
| Page 33
| Page 34
| Page 35
| Page 36
| Page 37
| Page 38
| Page 39
| Page 40