Updates

Carphone Warehouse - 30% increase in connections

May 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The sale by deputy chairman, David Ross, of 15m shares at 147p (he retains nearly 200m) was arguably the main reason that the shares refused to respond positively to what was a highly encouraging trading performance in the fourth quarter. Carphone Warehouse (CPW) announced that pretax profit would be "at the top end of the range of forecasts with earnings per share exceeding it." Highlights in the store side included a near 30% increase in connections to 1.44m and 33% rise in subscription connections to 0.66m. 12 new stores were opened, taking the total to 1,214, with CPW planning to open another 200 this year. The group expects this to drive a 15% growth in connections this year, although, as always, it wil ...

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