Feeds

Carphone Warehouse banks on US, iPhone to lift H2

Did they just mention they're selling iPhones?

Next gen security for virtualised datacentres

Carphone Warehouse shrugged off any taint of economic gloom this morning as it predicted its second half will be buoyed by US expansion and the launch of new products like the iPhone in the UK.

The mobile phone chain/operator/broadband provider struck its bullish stance as it unveiled first half results that showed revenues of £2.1bn, up from 1.8bn last year.

It trumpeted “headline profit before tax” of £56m, compared to £14m last year. However, once amortisation of acquisition intangibles and reorganisation costs were run through the figures, it made £9.6m pre-tax, compared to last year’s £4.7m loss after amortisation.

The “outlook for continued growth is good” the firm declared, with “considerable scope” for expansion in both Europe and the US. In the short term, it said, the iPhone launch (6pm tomorrow, in case you hadn’t heard) and the “mass adoption” of mobile data services will stimulate growth. CPW’s distribution business – that’s mainly stores – continued to account for the lion’s share of its business, at £1.5bn, and earnings before interest and tax of £56m. UK fixed line took in £697m, with EBIT of £39m.

Residential pulled in £542m, up 72 per cent. AOL accounted for £196m of this.

CPW said it added 215,000 net broadband customers in the period, taking the total to 2.5 million. Broadband customers on its own, unbundled, network grew 675,000 to 1.4 million.

Beyond Europe, the firm said it had formalised its agreement with US chain Best Buy, and will roll out its Best Buy Mobile outlets from the current 70 to 1,000 stories. Best Buy has been mentioned as a possible acquirer for CPW. CPW has brought Best Buy’s Geek Squad to the UK, and said it will roll the concept out to Spain in the new year, then to other countries.

Release available from here. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
We need less U.S. in our WWW – Euro digital chief Steelie Neelie
EC moves to shift status quo at Internet Governance Forum
Google has spaffed more cash on lobbying this year than Big Cable
Don't worry, it'll be cheaper when they use drones
EE fails to apologise for HUGE T-Mobile outage that hit Brits on Friday
Customer: 'Please change your name to occasionally somewhere'
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?