Carphone Warehouse 2008 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2008 Carphone Warehouse annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

Directors’ Report: Business Review
Operating Review continued
12 The Carphone Warehouse Group PLC Annual Report 2008
What we said we’d do in 2007-08Business Divisions How we’ve performed Our objectives in 2008-09
• Open a further 250 new stores
• Develop new format wireless
solutions stores
• Continue to expand our presence
in the US market through Best
Buy Mobile
• Roll out Geek Squad across the UK
Retail (including Online) ✔267 new stores opened / acquired
✔Subscription connections up 10.8%
✔Total telecoms subscription
connections growth of 12.9%
✔Best Buy proposition showing
excellent progress
• Open a further 120 new stores
• Accelerate conversion of stores into
new format and relocation of stores
to bigger and better locations
• Accelerate conversion of Best Buy
Mobile stores within a store in the US
• Continue to market the Geek Squad
brand across the UK and Spain
• Revenue growth of 15%
Insurance ✔Revenue growth of 24.0%
✔Customer base up 5.4%
• Revenue growth of 10%
• Revenue growth of 15%
Ongoing ✔Revenue growth of 23.4% • Revenue growth of 10%
• Continued steady growth in revenue,
profitability and customers
• Continue to build the Virgin Mobile
France brand and customer base
• Launch contract MVNO in the
UK and invest in building non-UK
MVNO operations
Mobile ✔TPHT customer base grew 22.6%
to 1.84m
✔800,000 Virgin Mobile customers
✔Launch of Talkmobile, an MVNO
in the UK
• Evolution of German business
away from service provision towards
“Retail Plus” model
• Build out exchange network to 1,650
TalkTalk and 900 AOL exchanges
• Begin 3 year project to unify
network infrastructure to a single
technological platform
Business (B2B) ✔1,619 fully unbundled TalkTalk
exchanges
✔1,011 partially unbundled
AOL exchanges
✔Network unification project started
successfully and accelerated
• Revenue growth of 2-3%
• Complete network unification project
• Complete integration of AOL
• Invest in improved customer service
• 70% of base migrated to LLU by
March 2008
Residential ✔AOL integration well advanced
and due to complete in 2008
✔Improvement in customer service
✔67% of base on LLU
• Broadband customer growth
of 400,000
• Revenue growth of 5%
• 80% of base on LLU
Our Performance Update
UK Fixed Line