Carphone Warehouse Preliminary Results For The Year Ended 31 March 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