Troubled European electricals retailer DSG International has issued its second profit warning in four months.

The group forecast a 30.5% pre-tax profit slump in the year ending April 2008. It believes it will make £200-210 million, down from £295.1 million in the previous year.

Shares were off 4.3p, or 7% in early trade to 61 pence. Prior to the profit warning analysts were forecasting £214-230 million. DSG is now expected to slash its full year dividend payment when it publishes results in June.