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Thursday, January 24, 2013

Quarterly figures from Carphone Warehouse boosted by 'pay monthly' connections

Carphone Warehouse Group plc has published an interim management statement for the third quarter of its financial year, covering the three months until the end of December 2012.

Its CPW Europe retail business - a 50% joint venture with Best Buy - saw like-for-like revenue up 7.8%, with UK like-for-like revenue up 16% from the same quarter in 2011. European revenue was driven by postpay deals in the UK and by tablet sales.

When currency movements and other factors are taken into consideration, overall revenues for the quarter increased by 14.5% from £951 million to £1,089 million.

Roger Taylor, CEO of Carphone Warehouse Group, said “I am delighted with the performance of our UK business over the Christmas quarter, with like-for-like revenues up 16%, building on the momentum seen in Q2, and this has helped drive a strong overall 7.8% like-for-like revenue growth. We substantially grew market share in both prepay and postpay, and gained authority in tablets. This reflects extremely well on our team and on our policy of investing in our proposition to give our customers compelling offers on smartphones and tablets, accepting some margin investment. Mainland Europe like-for-like revenue was broadly flat, with trading being particularly challenging in France, and this, combined with the margin investment in the UK, means that we will not be changing our full year earnings guidance.”

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Author: The Fonecast
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