Feeds

Carphone shares jump on Best Buy news

Smartphones push earnings as CPW raises targets

New hybrid storage solutions

Carphone Warehouse shares are up almost nine per cent in early trading on news that the mobe reseller is raising targets after a strong first six months trading.

CPW said smartphones and interest in the "Connected World" helped increase sales in the first six months.

The company expects earnings per share of between 13.5 and 14 pence per share - up from 11.5 to 11.9 pence previously.

But the company expects a larger loss for Best Buy UK - in the region of £50 to £55m for the year.

Revenue for the six months ended 30 September 2010 was £1.67bn, down very slightly on 2009. But profit before tax was £103m compared to £79m for the same period last year.

Carphone Warehouse grew revenue 2.4 per cent but Ebitda (profit after bad things excluded) grew by 56 per cent to £44m.

The real star performer was Best Buy Mobile US, which made a profit of £43m in the period and now expects full year earnings of £85m to £95m – compared to the £53m to £55m predicted previously.

Response to the firm's joint venture with Best Buy in the UK has also been encouraging.

Roger Taylor, chief executive, said: "Customer response to our first five Best Buy branded 'Big Box' stores has been overwhelmingly positive, with the sixth store opening in Derby today. With yesterday's launch of its transactional website, Best Buy gains national reach and is able to compete as a truly multi-channel retailer."

In France the joint venture with Virgin Group - Virgin Mobile France - had a reasonable year but was focused on integrating Tele2. It still expects to add 50,000 to 100,000 customers over the full year.

CPW's full figures for the six months are here. ®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.