Carphone Warehouse's third quarter results

Carphone Warehouse's third quarter results

The Carphone Warehouse revealed its third quarter results today, with a growth in retail revenue supported by a strong increase in fixed line revenue and a growing high street presence.

The results, which detail performance up to 29 December 2007, show that Carphone experienced 13% growth in retail revenue, up to £650m; a 1% like-for-like increase.

Carphone CEO Charles Dunstone said he believed the group was well positioned despite an uncertain consumer market. He said: ‘We have enjoyed a good third quarter across the group. In the distribution business, we significantly outperformed the market in both subscription and prepay.’ 

Fixed line revenue grew by 36% to £349m, underpinned by the unbundling of 221,000 customers. Mobile connections were up 11% to 3.6m. 

During the third quarter, Carphone opened an additional 86 stores, taking its total to 2,423. 

However, the off-the-page channel 'continued to lag'; a dying off-the-page market was blamed during Carphone's half yearly results in November when it missed its projected revenue targets.

And the recent controversy over Carphone’s iPhone insurance sales tactics doesn’t appear to have affected the retailer, with insurance revenues up 22% to £43m.

Written by Mobile Today
Mobile Today


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