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Wednesday, July 28, 2010

Q1 results from The Carphone Warehouse

The Carphone Warehouse Group plc – which is 50% of Best Buy Europe and 47.5% of Virgin Mobile France - has published an Interim Management Statement for Q1 of its 2010-11 financial year.

Roger Taylor, the company's CEO, said "We've had a good start to the year, meeting our expectations and enabling us to reiterate the full-year guidance we gave in our April strategy update. Our vision of the Connected World strikes a strong chord with customers. They want the powerful communication and connectivity devices that are increasingly available, and value our people's ability to set them up so that they can 'walk out working'.  This theme, coupled with impartial advice, best value promise and informed service runs across all of the Best Buy Europe businesses and is helping to drive their growth and customer loyalty."

In Carphone Warehouse Europe, like-for-like revenue was up 3.7% in the first quarter, although connections were down by 1.1%. Best Buy Mobile US connections were up 29.7% and the first three Best Buy UK 'Big Box' stores launched. Three more UK Best Buy stores are due to open in 2010.

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Author: The Fonecast
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