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Carphone Warehouse trading update: clearer water - Venture Insights

Report Overview

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Carphone Warehouse trading update: clearer water

PublisherEnders Analysis.
Publish Date January 19, 2010
Sector Fixed Line (Internet and Voice).
Company Carphone Warehouse, TalkTalk.

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At TalkTalk Group (TTG) net broadband additions were solid, possibly helped by stronger growth in total market demand; but churn at Tiscali UK appears to remain high.

TTG revenue was heavily distorted by the Tiscali acquisition but appears to remain in gradual decline on a like-for-like basis, due to continuing decline in non-broadband customers.

Carphone Warehouse’s like-for-like distribution revenue showed a firm pick-up in the quarter, with it likely enjoying the first quarter of significantly improving market growth since the recession started.