London, Europe’s largest mobile-phone retailer Carphone Warehouse Group PLC on Thursday reported an 18% increase in first-half revenues and announced a major expansion into the United States, saying it will open 1,000 stores by 2009, according to the Dow Jones newswire.
The company almost doubled earnings before interest, tax, depreciation and amortization, as it stepped up its broadband business and acquired AOL’s U.K.’s Internet service-provider business.
“We have made good progress across the group in the first half. The retail business continues to prosper across Europe, and we are announcing today a major rollout of our U.S. venture,” said Carphone Warehouse founder and CEO Charles Dunstone.
“The outlook for continued growth is good. We see considerable scope for further physical expansion, both in Europe and the US, over the coming years,” he said.
Carphone Warehouse said that it would expand further into the United States through its joint venture with Best Buy Co. Inc. The two companies plan to open 1,000 Best Buy Mobile stores by 2009.