Carphone expecting great things from full year financials

2 Apr 2004

Europe’s biggest mobile retailer Carphone Warehouse says that it expects profits for the financial year ending 31 March 2004 to be at the upper end of expectations on the back of continued strong growth in mobile connections alongside strong performances from its fixed line business TalkTalk. The company expects a pre-tax profit of GBP76 milllion (USD140 million) and is planning to invest around GBP80 million in its operations for the coming financial year. Carphone plans to open 200 new retail outlets over the next twelve months, to take its European presence to more than 1,400 stores. It said that phone connections in its fiscal fourth quarter rose by 29.6% to 1.44 million, whilst subscription connections were up 32.4% to 660,000. The company claims it now has 385,000 customers to its UK fixed line service TalkTalk, up 146,000 on the start of 2004. Carphone offers a similar service in Spain and is due to launch fixed operations in France next month, using wholesale minutes from alternative carrier LDCom. It also recently announced the acquisition of Swiss telecoms reseller N Tel for GBP13.3 million.

United Kingdom