07/11/2001

Carphone Warehouse report first-half profits rise

Europe's largest mobile-phone retailer, Carphone Warehouse has reported a surge in first-half profits with pre-tax profit climbing by 20 per cent to £9.6m in the six months to end-September.

Turnover also rose in line with profits, to £540m, with the firm buoyed by a 30 per cent upturn in subscription mobile-phone connections.

However, Carphone Warehouse reported that trade in recent weeks has not been up to expectations following the terrorist attacks on the United States.

In the five weeks to November 3 the firm revealed that retail like-for-like profit rose by only two per cent.

While the Carphone Warehouse said that it had continued its aggressive growth strategy during the half-year, heavy investments in its retail network had allowed the company to continue growing in a market that was shrinking fast. (MB)

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