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Carphone Warehouse raises guidance

Carphone Warehouse is raising its full year guidance following a strong first half.

CITY & CORPORATE

Carphone Warehouse raises guidance

The firm's after-tax profits for the six months to the end of September rose to £25m - up from £7m last time - with a 267% year-on-year growth in headline earnings per share from 1.5p to 5.5p.

It says this reflects strong growth in pre-tax earnings within Best Buy Europe and a transformation in the profitability of Virgin Mobile France.

The firm has upgraded the full year EPS range to 13.5p-14.0p from 11.5p-11.9p.

CEO Roger Taylor said: "A key growth driver is the increasing popularity of smartphones and customers' growing interest in the 'Connected World', coupled with their recognition of our heritage of expertise and independent advice in explaining complex technologies.

"In the US, Best Buy Mobile is performing even better than we had expected with Best Buy Mobile's US market share now around 5%, compared to around 1% when the venture started in 2006.

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