Carphone Warehouse meets forecasts with 59pc earnings boost

Guy Bentley
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Carphone Warehouse has announced that it met forecasts with a 59 per cent rise in annual earnings for the year ended 29 March.

Europe's biggest independent mobile phone retailer enjoyed full year like-for-like revenue growth of 5.3 per cent, with connected world services progressing strongly.

Andrew Harrison, CEO, said:

Strategically and operationally, we have moved our business forward significantly, showing further progress on 4G, developing our award-winning tablet-based assisted sales tool, Pin Point, growing our Connected World Services business, and taking steps to realise value through the proposed sale of Virgin Mobile France

The company said 4G is now a major dynamic on the mobile market and believes it has increased its appeal to customers for providing impartial advice and value.

The news follows the announcement yesterday from Carphone Warehouse that the European Commission has unconditionally cleared a merger between the company and Dixons.

An all-share merger deal was first announced on 15 May. Ownership of the combined entity will be split between the two firms' existing shareholders.

Earlier this month, British mobile operator EE confirmed it is conducting a review of its sales through Carphone Warehouse and Phones4U, which could see it pull out of one or both retailers.

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