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Profit Forecast Raised by Carphone Warehouse

On the back of strong half year profits of £75 million, the Carphone Warehouse has raised their full year earnings forecast and has said they are on track to complete the de-merger of their retail and telecoms firms by March next year reports the Times Online.

Carphone Warehouse if Europe’s largest mobile phone retailer and has stated that underlying earnings per share grew 88% to 6p in the 6 months to the 30th of September and thus has raised their full year earnings forecast to between 14 and 15p per share which is higher than analysts predictions of 13.7p.

The company attributed the strong performance to a rising quantity of broadband customers signing along with a buoyant demand for smartphones such as the Apple iPhone.

The group reported strong half year performance especially from TalkTalk, which added 124,000 new customers in the first half of the year. Shares in Carphone Warehouse have rose 2.7p up to 195p this morning.