UK business shows strong performance for the three months ending March 31, with contract and prepay share increasing
Carphone Warehouse’s UK operation saw a year-on-year rise in revenues of 15 per cent in Q4, whilst also seeing its market share in contract and prepay grow.
The retailer didn’t provide specific figures but said it enjoyed strong connections growth in the three months to March 31, and maintained the significant tablet sales growth experienced in the previous quarter.
It also revealed that it had sold one of its freehold buildings during the quarter for £40.5 million. Since the end of the quarter, a second freehold property has also been sold for £10.5 million. Both are based in Acton, west London.
Total Carphone Warehouse Europe connections were up 9.7 per cent with like-for-like revenue growth of 6.5 per cent in the quarter.
Carphone said it has completed its strategic review in France and is planning to exit the country following store disposals and some closures at a cost of between £80-£90 million.
Its Virgin Mobile France joint venture posted revenue growth of 4.2 per cent for the 12 months to March, with Q4 revenue declining 9.7 per cent with. It lost 52,000 prepay customers in the quarter but for the full year ended up adding 11,000 subscribers.