Since taking the helm of Dixons Carphone in April last year, former Shop Direct boss Alex Baldock has had his work cut out.

A month into the role, Dixons Carphone issued a profit warning closely followed by an interim pre-tax loss of £440m in December, triggered by a £490m charge that primarily related to a loss of goodwill of its mobile business.

Today, the electricals retailer posted a 22% fall in pre-tax to £298m in the year to April 27, 2019, as UK and Ireland mobile sales shrank 11% to £2bn.

Dixons Carphone’s share price slumped 28% in the wake of the announcement and the City seems unconvinced by the business’ turnaround plans.

Investec analyst Ben Hunt says: “We continue to believe a new strategy is lacking given that guidance implies flat profit growth over three years.”