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Carphone Warehouse increases profit estimates

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Posted 27th April 2010 at 11:39am by Oliver Folkard

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Carphone Warehouse has once more announced that it is raising its predictions for its full-year profit after a "strong performance" during the first quarter of 2010.

The retailer has announced that it now expects to make a total net profit of around £47 million this financial year, attributing the improved performance to growing demand for smartphones amongst a mainstream audience.

The company's partnership with US retailer Best Buy has also been a significant contributor to growth, according to Carphone Warehouse Chief Executive Officer Charles Dunstone.

He said: "Best Buy Mobile US is out-performing even our expectations. Carphone Warehouse Europe continues to trade strongly with like-for-like revenue up three per cent in the fourth quarter.

"Our full year results are ahead of expectations and our operating free cash flow is well ahead and represents a transformational improvement on the prior year."

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