Reversal of fortune for Carphone Warehouse

Carphone Warehouse Ireland has staged a remarkable turnaround in the past 12 months, turning a near €10m loss in 2013 into a €2.1m profit last year.

The phone retailer, which is to expand into launching its own mobile network this summer, credited a host of new partnerships for its revival in fortunes.

Cost reductions were also highlighted as critical to its success in 2014. Carphone Warehouse Ireland managing director Peter Scott said the results show it has come through difficult conditions to turn a profit but warned it must maintain its focus on being competitive.