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Carphone Warehouse increases UK market share

Revenues up a smidge

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Shares in Carphone Warehouse rose this morning after the retailer published a batch of encouraging figures.

Turnover for the year to the end of March rose a smidgen to £1.15 billion from £1.11 billion the year before.

Pre-tax profit fell slightly to £46.8 million from £49.6 million in the previous year.

Carphone Warehouse also managed to increase its market share to more than 20 per cent - up from 12 per cent last year.

This performance is set against tough trading conditions and at a time when retailers recorded a sharp drop in handset sales.

Said CEO Charles Dunstone in a statement: "In a challenging year, we have outperformed a European handset market that is down by up to 40 per cent. Our market share has increased substantially."

While it is pleased with these figures, Carphone Warehouse also has an eye on the future and is also looking ahead to the arrival of next generation 3G services in the hope that this will spark a surge in sales grow.

Said Dunstone: "Our current trading figures leave us feeling increasingly optimistic for the current year ahead. We are delivering increased sales without the benefit of picture messaging and the first 3G services which are still to come. All this forms a stable platform from which we can deliver growth during the next 12 months and beyond."

By mid morning shares in Carphone Warehouse were up 4p (5.23 per cent) at 80.5p. ®

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