CPW Report 3rd Quarter Revenue Rise

In an interim management statement the Carphone Warehouse Group has announced a third quarter revenues rise of 14% and said their outlook for the full year is unchanged.

Highlights in CPW’s fixed line business include a 36% growth in revenue to £349m and 118,000 broadband net adds, taking total base to 2.6m, The company also reports 221,000 customers unbundled, taking unbundled base to 1.6m or 61% of the total 1,533 TalkTalk exchanges and 924 AOL exchanges now unbundled

Charles Dunstone, Chief Executive Officer, said: “We have enjoyed a good third quarter across the Group. In the Distribution business, we significantly outperformed the market in both subscription and pre-pay, reflecting the enduring strength of our customer proposition and good execution. Within UK Fixed Line, we continued to make excellent progress in customer growth, network roll-out and profitability, with recruitment trends strengthening into 2008. Overall our expectations for the full year are unchanged.

“We believe we are well positioned as a Group, despite the more uncertain consumer environment. This year a significant proportion of profits will come from recurring revenue streams. In our Distribution business, the mobile industry business model and ancillary revenue streams provide strong earnings support. In our broadband business, our value proposition and the success of unbundling significantly enhance the visibility of future earnings.”

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