Carphone chief cuts holding as retailer reports strong FY growth

8 Jun 2005

Charles Dunstone, the chief executive of European mobile retailer Carphone Warehouse, yesterday reduced his stake in the company on the same day that it reported another strong set of full year financials. Dunstone is expected to make around GBP10 million (USD18.35 million) before tax from the disposal of six million shares to private investors, which reduces his holding in Carphone Warehouse to 34%. The company chief refused to be drawn on his reasons for the sale, saying only that it was for ‘personal reasons’.

In the year to 2 April 2005, Carphone Warehouse saw pre-tax profits rise from GBP44.5 million to GBP68.9 million, as turnover leapt 27% to GBP2.36 billion. All areas of the business delivered strong growth, with the company’s alternative fixed line service TalkTalk singled out for its 71.5% year-on-year increase in revenues.

United Kingdom