Shares in Carphone Warehouse jumped by more than 4% today after the telephone retailer reported an increase of almost a third in interim profits.
A strong performance from the UK division pushed pre-tax profits up 30% to £8.6 million in the six months to September 30, the shares up 7.45p to 182.95p. The group’s boss Roger Taylor said Carphone Warehouse may buy out partner Best Buy from their joint venture in Europe if the US giant is bought by its founder Richard Schulze, who is expected to make a bid in December.
The European business was weaker, with profits falling to £12.5 million from £20 million a year earlier in the face of a weak pre-pay market. Carphone Warehouse will have 280 Wireless World stores in the UK by Christmas, as well as the 500 branches of Carphone Warehouse.
