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Dixons Carphone sees big profits fall

The retailer admits that it has "plenty of work to do" in revamping its business as annual profits slide.

Concessions jumped to yet another record in January, with 49 percent of newly signed leases coming with some sort of sweetener.

The amount of money put into the accounts has fallen by a third year-on-year, according to HMRC.

The estimated annual net decrease of 81,000 takes the figure to 246,000 - the lowest for three years.

Pharmaceuticals giant GlaxoSmithKline (GSK) sees a big fall in second-quarter earnings amid continued pressure from generic drugmakers.

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