Feeds

Carphone shares jump on Best Buy news

Smartphones push earnings as CPW raises targets

3 Big data security analytics techniques

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. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.