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Carphone Warehouse Q1 results ahead of forecast
CW Europe revenues boosted by smartphone sales
Carphone Warehouse Group (CW) today said it is confident of meeting full-year expectations following better than expected first-quarter results.
CW Europe reported like-for-like Q1 revenues up 3.7%, largely due to strong sales of smartphones. Connections were down as anticipated by 1.1% due to a reduction in sales of lower value pre-pay phones.
CEO Roger Taylor said: “We’ve had a good start to the year, meeting our expectations and enabling us to reiterate the full-year guidance we gave in our April strategy update.”
In the US, Best Buy Mobile delivered an impressive quarter, growing connections by 29.7% to 1.43 million.
Revenue at Virgin Mobile France, in which CW has a 47.5% stake, was in line with expectations at €93m for the quarter, but its customer base declined by 20,000 in the quarter due to the integration with Tele2.
Taylor said the first three UK Best Buy ‘big box’ stores (Thurrock, Hedge End and Merry Hill) all enjoyed a very successful launch and customer response has been “extremely positive.”
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