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Carphone Warehouse gets 3G boost
TalkTalk heads for half million mark...

By Ron Coates

Published: Thursday 03 June 2004

Carphone Warehouse has lifted profits and turnover and gained an extra boost from 3G sales.

CEO Charles Dunstone said in a statement: "The rapid increase in the volume of our 3G connections since the start of 2004 gives some indication of likely future demand. At the same time the rate of innovation and renewal from the handset manufacturers continues to stimulate customer demand."

A company spokesman confirmed 3G sales are making up 25 per cent of the company's sales and this is expected to increase with new offers and the ruthless cost-cutting being carried out by operator 3.

In its first year, the company's TalkTalk operation pulled in 385,000 customers and Dunstone said he expects this to hit the half million mark within the next few weeks.

Headline profits were up 33.98 per cent to £76.3m with revenue, excluding its wholesale operations, up 61.5 per cent to £1.67bn. The company's Opal fixed-lines-for-business operation grew just over 100 per cent to 5.5 billion minutes of talk time.

Connections grew 22.6 per cent to 5.35 million and subscriptions hit 2.41 million, up by 26 per cent. Dunstone said the company estimates the European handset market grew at 18 per cent and therefore the company is gaining market share.

Dunstone also estimates that 150,000 to 200,000 customers a month are leaving BT for CPS suppliers.