Funds hit as Dixons Carphone shares tumble 30% on profit warning

Currently trading at 177p

Dixons Carphone, the owner of Carphone Warehouse and Dixons, has become the latest UK giant to issue a profit warning, causing its share price to slump 30% in early morning trading.

The UK's largest electronics provider warned the scrapping of EU roaming charges and the lack of mobile phone innovation from Samsung and Apple would impact profits. It said profits this year would be between £360m and £440m, down from £501m in 2016. The FTSE-250 listed company's shares are currently trading down 23% at 177p, which is a long way off the all-time high of 505p seen in early 2016. According to the BBC, CEO Seb James said the market had become "more challenging" in recent months, with the fall in sterling post the Brexit vote making phones more expensive. According ...