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Carphone Warehouse announces annual results

Carphone Warehouse Group plc has published its preliminary results for the year ended 31st March 2012. Net profit was £57.7 million, up from last year, although revenues from its European retail business were down 5.5% year-on-year to £3,313.1 million.

Roger Taylor, the company’s CEO, said “Our core businesses have performed well during the year, delivering a robust performance in a challenging environment. CPW Europe continues to take advantage of its positioning in the Connected World, focusing on its newly designed store format, wider product and service proposition and strong relationships with network partners, all of which have enabled us to meet our EBIT target for the year.Virgin Mobile France proved to be a resilient business in a very competitive market, with strong revenue growth, and we are excited about the opportunities that the move to a Full MVNO and launch of quad-play will bring. Looking ahead, we expect the consumer environment in Europe to remain difficult, but we see opportunities as well as challenges and we are confident in our strategic positioning and operational execution.”

The company notes that one of CPW Europe’s key opportunities is to broaden the non-cellular product category by moving more deeply into tablets, accessories and what it calls ‘app-cessories’, giving customers more reasons to come into its stores.

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