Free broadband problems hit Carphone profits

Carphone Warehouse reported a near 10% fall in annual profits today after the Talk Talk owner counted the cost of its troubled launch of free broadband.

Pre-tax profits for the year to March 31 slipped to £123.1m (€181.6m) because of £80.5m (€118.8m) of losses linked to Talk Talk and the start of its Virgin Mobile joint venture in France.