Dixons Carphone profits fall 24% amid warning of no quick fix

New boss Alex Baldock says ‘we have plenty of work to do’ but is confident in long term

The new Dixons Carphone boss, Alex Baldock, has underlined his warning that fixing the retailer’s problems will take time, as he reported a 24% plunge in profits.

The UK electricals and mobile phone retailer, which disclosed a massive data breach last week, has been hit by the lack of technical innovation in mobile phones, meaning customers are updating their handsets less frequently.

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