Carphone hopes hit by property slowdown

TalkTalk firm Carphone Warehouse today scaled back growth forecasts for its broadband business as a slowing housing market weighs on the firm.

The company, which has 2.7 million residential broadband customers across the UK, said the number of new customers since April had been lower than expected and took a “cautious” view of the year ahead.

Carphone also blamed higher mobile broadband sales for the result, but said the lower numbers would be offset “to some extent” by fewer customers switching as its service improves.

Pre-tax profits for the year to March 29 were £216m (€274m), 75% ahead of the previous year and in line with its previous guidance.