Carphone raise full-year earnings forecast for 2nd time

Carphone Warehouse increased its earnings forecast for the full-year, boosted by robust performances by its Talk Talk and Best Buy joint venture businesses.

The group said it now hopes year-end broadband customers at the top end of its guided range of 4.1 million to 4.2 million.

Carphone also expects its share of Best Buy's net income to stand between 40 million pounds and 50 million pounds as compared with its previous forecast of 30 million and 40 million pounds.

Best Buy Europe reported an increase of 5.5 per cent in comparable sales for the quarter to December 31.

Speaking on the topic, Carphone’s CEO Charles Dunstone said, "Best Buy Europe, in which we have a 50 per cent share, has seen a very good quarter.”

The group said that total revenues from TalkTalk Group jumped 29 per cent to settle at 446 million pounds during the third quarter. The acquisition of Italian company Tiscali helped it to allure as many as 36,000 new broadband customers.

Carphone Warehouse has plans to split its TalkTalk business and Best Buy Europe retail joint venture into two companies.

In the after-hours trading, shares in Carphone Warehouse gained 1.5p to 198.5p.