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Carphone Warehouse reports 13 pct rise in revenue

Carphone Warehouse reports 13 pct rise in revenue

Carphone Warehouse Group PLC, Europe's largest mobile phone retailer, warned Thursday that challenging times lay ahead even as it reported a 13 percent increase in retail revenues to 1 billion pounds ($1.5 billion) in the last three months of December.
Chief executive officer Charles Dunstone said the company would focus on generating cash and controlling costs this year as the economic environment continues to worsen. He added it expects to achieve headline earnings per share of 12 to 13 pence.
The company, which set up a mobile phone and retail joint venture with the U.S. electronics retailer Best Buy Co. last year, said the mobile phone handset market was declining but sales had been strong over Christmas. Same-store revenues rose 6.5 percent, but were down 1 percent when currency fluctuations were taken into account.
Carphone Warehouse shares rose 2.8 percent to 102 pence ($1.49) at midday, on the back of the steady report.
The company said its retail section had achieved over 30 percent market share in the prepay market. Overall, mobile connections were up 3 percent to 3.7 million. The company said same-store retail gross profit was up 3.8 percent or down 3.7 percent on a constant currency basis.
Revenues at the group's TalkTalk business, which provides telephone and broadband services, were down 2 percent to 347 million pounds. The company said growth in the broadband market is subdued and that its non-broadband base had also declined.


Updated : 2021-02-26 01:49 GMT+08:00