CarphoneWarehouse said today that trading in the third quarter was towards the top end of expectations and it is on track to split the company into two.

But the markets weren't impressed - CPW shares are up only half a percent, admittedly on a falling market.

It expects income from its Best Buy joint venture to be between £40m and £45m - above previous guidance of £30m to £40m.

Best Buy increased connections by 1.4 per cent, despite tough annual comparisons. Operating margins are up slightly thanks to cost cutting and the first "Big Box" store in spring this year.

Virgin Mobile France should increase revenue by 44 per cent to €63m from 1.69 million customers.

The demerger - splitting into telecoms business TalkTalk and retail business Best Buy - should be completed by the end of March. Shareholder information is going out this month. ®

Related stories

• Carphone Warehouse fills up in Q4 (26 April 2010)
• Dunstone talks up TalkTalk TV (1 February 2010)
• CpW unveils new identity excitingness (29 January 2010)
• Carphone credits Tiscali for growth (27 November 2009)
• CPW and Vodafone finally make up (2 July 2009)
• Vodafone and CPW set for big thaw (8 June 2009)
• Carphone Warehouse splits in two (5 June 2009)
• Carphone and Best Buy shrink store plans (7 May 2009)
• Carphone Warehouse resolves union site ambiguity (28 April 2009)
• CPW co-founder's secret loans get all-clear (9 January 2009)
• Property slump hits Carphone Warehouse (12 June 2008)