Complete Year Earnings Forecast Hiked by Carphone Warehouse

On the back of better-than-expected performances at its Talk Talk division and the Best Buy joint venture, Carphone Warehouse has gone ahead to hike its complete year earnings forecast.

For the year up-to March 2010, the company now expects to post per share earnings towards the top end of the 14-15 pence range, and its share of Best Buy's total revenue generated would be 40-50 Million Pounds, a substantial rise from the previous prediction of 30-40 Million Pounds.

As far as the company’s Talk Talk business goes, Carphone has added as many as 36,000 new broadband subscribers in the year's third quarter, to take the total user base to 4.15 million.

"TalkTalk Group's brand profile, value for money proposition, and customer service have continued to generate real momentum in the market. Best Buy Europe, in which we have a 50 per cent share, has seen a very good quarter. As a result of this and a strong performance from Best Buy Mobile in the US we are today increasing forecasts for Best Buy Europe", said Charles Dunstone, the firm's Chief Executive.

On the news of better earnings and an improved outlook, the company's shares rose by 1.5 pence to trade at a new high of 198.5 pence.

Overall, the third quarter report of the company has managed to show relatively strong results.