Carphone raises forecast after revenue surge

Carphone raises forecast after revenue surge
Carphone has reported revenues of £114m - up from £97m in 2009 - and has raised its full year profit forecast for the third time in six months.

The company reported its results for the fourth quarter ended 31 March 2010 today (26 April).

Fourth quarter like-for-like earnings rose 3%, fuelled by strong sales of smartphones and cost savings.

Carphone said it expected net profit for the year to the end of March to be about £47m, more than the £40m to £45m it indicated in January.

The company also expects strong growth at its joint venture with US group Best Buy. Carphone chairman Charles Dunstone said: 'We have ended 2010 with another strong performance and given our third upgrade in six months.'

The company split from its TalkTalk fixed line and broadband business last summer, creating two separate entities.

Carphone will open its first store through its joint venture with Best Buy in Thurrock, Essex on Friday 30 April.
Written by Mobile Today
Mobile Today

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