Carphone Warehouse results beat expectations
The Carphone Warehouse is quietly confident about its Christmas trading.
The Carphone Warehouse has announced strong half-yearly results for the six months to 30 September, well ahead of market expectations putting it in a strong position for the important Christmas period.
The company said its revenue has risen by 15% to £789 million compared to the same period in 2008, and reported profit before tax of £75m, a massive increase of 88% in comparison to last year.
The retailer said that its acquisition of broadband provider Tiscali in July had affirmed its position as one of the UK’s telecommunications leaders. The transaction boosted its customer base to over 4.1m.
Charles Dunstone, CEO, said: “Both TalkTalk Group and Best Buy Europe have traded well in the first half of the financial year. Each business has delivered a significant year-on-year improvement in operating free cash flow.
“As a result, we are raising guidance for the full year to March 2010.”
The half-yearly statement said that the demerger between the Carphone Warehouse and TalkTalk is still on track to be completed by the end of March 2010, when the two businesses will be listed separately on the London Stock Exchange.
Finance Director, Roger Taylor, told Reuters that the company is quietly confident about its Christmas trading.
The news had little effect on the company’s group shares during trading today (27 November).
