Carphone says it will reach top of expectations

Carphone Warehouse yesterday reported brisk trading, driven by a strong performance in its US joint venture with Best Buy.

Europe’s biggest mobile phone retailer said it expects full-year earnings to be at the top end of forecasts.

The group, which owns 50 per cent of the venture with Best Buy as well as a 47.5 per cent stake in Virgin Mobile France, said sales phones based on Google’s Android software and growing demand for pre-pay smartphones were the highlights of its Christmas trading. Carphone said its share of full-year profit from its joint venture would be £90-100m.