Carphone Warehouse cheers

Carphone Warehouse, Europe’s biggest independent mobile phone retailer, beat sales growth forecasts, with strong demand for smartphones and tablets in the UK more than offsetting weakness in France.

Despite beating sales forecasts the firm said it would not be changing earnings guidance as it had invested in margins to drive revenue. Sales at stores open over a year rose 7.8 per cent in the final three months of last year, with UK sales up 16 per cent.