Dixons Carphone hands all staff £1,000 shareholding, despite interim loss

But weakness in mobile business pushes it to £440m first-half loss

Electronics retailer Dixons Carphone is dishing out at least £1,000 in shares to each of its employees, despite tumbling to a £440m pre-tax loss in its interim results.

The London-listed PC and mobile phone peddler said the share ownership scheme will apply to every permanent staff member with 12 months' service, and will cost it £10m per year over the next three years.

The announcement came as Dixons Carphone unveiled statutory losses before tax of £440m in the 26 weeks ended 27 October 2018 as store closures and weaknesses in its mobile business led it to eat £490m in one-off charges.

This includes a £225m goodwill impairment charge relating to its UK & Ireland mobile segment alone, which posted a headline before interest and tax of £31m on revenues that fell four per cent to £1.01bn during the period.

Overall revenues hit £4.89bn, up two per cent on a like for like basis.

CEO Alex Baldock said it was intent on focusing on two "big growth opportunities" in the form of online and credit, as well as "revitalising" its mobile business.

"There are headwinds and uncertainty facing any business serving the UK consumer, we've had our own challenges, and our plan will take time," he said.

"But, with this plan, we can now see the way to unleashing the true potential of this business. We believe in our plan, are underway making early progress and determined to make it a lasting success."