Carphone Warehouse shares have a tough week
Carphone Warehouse has seen its shares have a tough week after healthy mobile phone sales failed to offset a weaker-than-expected outlook for the year ahead.
Europe's biggest mobile phone group said earlier this week that it now expects pre-tax profits of between £215m and £220m for the 12 months up to 31 March - a revenue growth of about 10 per cent.
City analysts had predicted profits would be a little higher - between £220m and £225m.
Carphone admitted its net debt had risen thanks to the weakness of the pound against the euro and the Swiss franc.
The company experienced a 12 per cent increase in mobile phone customers to 2.7m in the three months to the end of March, more than had been forecast.
However, Carphone's broadband division underperformed, adding only 109,000 customers in the final quarter - significantly lower than the hoped-for 128,000.
O2 and Carphone Warehouse recently slashed £100 off the price of the 8GB model of the iPhone.
O2 news posted on 18 April 2008
False
False
Have your say - Post a new Comment!