1/21/2014 12:01:08 PM
Carphone Warehouse announced growth for sixth consecutive quarter
Carphone Warehouse has revealed revenue growth in Q3 2013 for the sixth consecutive quarter.
The high street retailer recorded modest growth of 3.1%, despite connections being down 12.7%, a factor attributed to declining prepay sales. Postpay sales delivered Carphone Warehouse 5% like-for-like revenue growth, with 4G sales encouraging. Incremental ARPU also increased in Q3.
CEO Andrew Harrison said: ‘Today we are reporting our sixth consecutive quarter of like-for-like revenue growth, despite the continued double-digit decline in the prepay market and strong comparatives for the same period last year. As anticipated, postpay volumes remain subdued while the market transitions to 4G. Against this, our strong brand awareness and our excellent retail execution meant that Carphone Warehouse again increased its UK market share. Our new Pin Point selling tool has proved particularly effective in driving the penetration of 4G tariffs and increasing revenue per connection.
‘We remain focused on our multi-channel customer journey, on driving 4G penetration and continuing to make good progress in our partnership relationships and our Connected World Services business. We are reiterating the full-year earnings guidance we gave in November.’