Numbers impress at Carphone Warehouse
Europe's largest independent mobile phone seller, Carphone Warehouse, managed to avoid an expected slump in sales to post respectable figures for the three months to the end of June.
Europe's largest independent mobile phone seller, Carphone Warehouse, managed to avoid an expected slump in sales to post respectable figures for the three months to the end of June.
Like-for-like sales at CPW Europe were down 2% although total sales including new stores rose 5.7% to £776m.
The key UK business is doing well from so-called post-pay growth, which is when consumers sign up to annual contracts. In mainland Europe there has been a weakness in the pre-pay market, driven by a dearth of attractively priced smartphones.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group's joint venture, Virgin Mobile France, did well, posting year-on-year revenue growth of 13% to leave quarterly revenues at €122m. The business now has 1,925,000 customers.
In its trading update, CPW sticks to its full year guidance.
The market had been expecting a much worse performance given the Eurozone crisis, consequently Carphone Warehouse shares were up strongly; at 10:53 the stock was 4.23% up on yesterday's close.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Warning as Brits face €6,900 fine if they fail to follow new Spanish travel insurance rule
Tourists are being warned of new rules in Spain that mean you must have fully comprehensive health cover in your travel insurance
-
Rachel Reeves to announce permanent 95% mortgage guarantee scheme
Mortgages offered through the scheme will mean first-time buyers and home movers can buy a home with a deposit of just 5%