11/27/2009 11:17:00 AM
Carphone reports 13% revenue surge
Carphone Warehouse has reported a 13% year on year growth in revenue to £789m for the six months ending on 30 September.
The growth represented performance across the company’s two main arms of business – broadband and retail.
Carphone Warehouse chief financial officer, Roger Taylor, said the independent retailer has had a ‘very strong start to the year,’ adding that ‘revenue growth has been slightly ahead of expectations’.
The company is also on track to open its ‘Big Box’ stores in Spring 2010.
Best Buy Europe in which Carphone has a 50% share, grew 4% year on year from £1,617m to £1674m, with mobile connections growing by 2% to 5.9 million during the period.
Carphone Warehouse CEO, Charles Dunstone said: ‘Within Best Buy Europe we maintain our guidance for full year operating free cash flow of £50m, after all “Big Box” investment. We also now expect our share of net income for the full year to be at the top end of the existing £30m to £40m guidance range.
‘Our guidance for Best Buy branded “Big Box” store openings remains unchanged. We remain fully on track to open our first stores in Spring 2010 and we are making good progress in finalising further store openings.
‘In the US, Best Buy Mobile continues its very strong development and we remain confident in our guidance for a material increase in its profit contribution in the current financial year.’
The retailer also reported positive feedback for its ‘Wirelesss World’ stores and said it expects to increase their number from 17 to up to 50 by March 2010.