Dixons Carphone said today it would review future shareholder payouts and declined to give earnings guidance after the impact of lockdown restrictions and the under-performance of its mobile division halved profits.
The company aid trading at its loss-making UK and Ireland mobile division had been worse than expected.
Sales slumped 20% after it shut stores earlier this year in response to Covid-19 lockdown restrictions and cut jobs.
Its adjusted pretax profit for the 53 weeks to the start of May fell to £166m from £339m last year, despite demand for items such as laptops, networking kits and gaming devices in the lockdown.
Chief executive Alex Baldock said on a media call this year would be "hard work" but he was optimistic longer term and, as many people carry on working from home and seek to stay in touch despite movement restrictions, technology would be crucial.
"Mobile remains a central category for us in the years ahead," Baldock said.
He anticipated a weakening of overall consumer spending later this year and said turnaround plans would take longer than previously thought.
Dixons, which also trades as Currys and PC World in Ireland and the UK, said in April it would scrap its full-year dividend.
While it declined to provide a financial outlook, some sector peers have done so. AO World yesterday signalled continued growth in online sales.