Sunday, April 5, 2020

Phones 4u sales up 11% as EBITDA falls


Mobile phone retailer Phones 4u has seen an 11 per cent sales rise over the last year, it has been reported today.

Although EBITDA has dropped three per cent, the business announced in its 2011 financial results published today that it has increased its market share by 7.4 per cent.

Tim Whiting, CEO at the group, explained the figures.

“Whilst this strong growth has led to margin improvement in our store network, it has been offset by an increase in claims costs in our insurance business which is principally due to a higher proportion of smart phones in the market,” he said.

During the year, the retailer opened 84 new stores across the UK, taking the total number of stores in its portfolio to 586 at year‘s end.

Expansion is a primary focus for the business and, over the course of 2011, it‘ store-in-store partnership with electricals retailer Dixons continued to flourish, with 42 new units opening during the period, taking the total number to 93.

Recently, the group was awarded ‘2011 Retailer of the Year‘ by a panel of mobile industry professionals and Whiting believes that the retailer‘s customer-focused strategy is a driver of its success.

He said: “By focusing on our customers and their needs we have maintained good momentum in the marketplace and we have increased our connection volumes which has driven a significant improvement in market share.

“This increase has delivered us strong growth, which is particularly pleasing as it has been achieved in a highly competitive market.”


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