Carphone Warehouse Preliminary results for the year ended 31 March 2011
Financial & Corporate
June 14th, 2011
• Group Headline EPS up over 80% to 15.0p (2010: 8.3p), top end of guidance
• Group EBIT up 67% to £63.3m (2010: £38.0m)
• Group share of Best Buy Europe’s net income up 28% to £60.4m (2010: £47.3m)
• Best Buy Europe operating free cash inflow pre-Best Buy UK of £212.6m (2010: £171.7m)
• Virgin Mobile France moves into profit and delivers strong net additions
• Cash and loans receivable at March 2011 of £156.3m (2010: £150.8m)
• Inaugural dividend of 5.0p per share to be paid on 5 August 2011
Alongside its preliminary results Carphone Warehouse Group plc is today giving its annual strategy update and financial guidance for the year to March 2012.
Full year highlights
• CPW Europe Headline EBIT growth of 18% to £134.6m (2010: £114.4m)
• Best Buy Mobile US profit share up 111% to £97.9m (2010: £46.4m)
• Best Buy UK (‘Big Box’) EBIT loss of £62.2m (2010: loss of £21.0m)
• Group share of Virgin Mobile France’s Headline net income £8.2m (2010: loss of £8.2m)
Guidance for the year to March 2012
• CPW Europe like-for-like revenue range of -2% to +2%
• CPW Europe Headline EBIT flat to 10% growth
• Best Buy Mobile US connections growth c.20% and profit share growth of 20-30%
• Best Buy Europe operating free cash flow similar to last year before Best Buy UK, with EBITDA growth invested in the CPW Europe store portfolio
• Group share of Virgin Mobile France post-tax Headline profit c.£7-8m
• Continue to evaluate next steps in our multi-format/multi-channel consumer electronics strategy