Carphone Warehouse Group Plc, a mobile phone retailer in UK, said today that the net profit for the full year ended March 31 is expected to come ahead of its expectations. The company also said that it expects strong earnings growth next year.

The company said that it is raising full year profit guidance on the strong sales figures in the last quarter of the fiscal. This is the third time in past six months when Carphone is raising its full year guidance.

Carphone said that it expects net profit of about £47 million for the full year ended March 31, 2010, while the company was expecting net profit of between £40 million and £45 million earlier in January this year.

Carphone said that the pretax profit for the year was reported of £114 million, increasing by 17.5% while it was reported £97 million in the previous corresponding period. Carphone also reported that the like for like profit grew by
3% in the fourth quarter of the fiscal.

Carphone said that the strong results were mainly attributable to the cost cutting measures applied by the company and strong sales of smart phones. The company also said that it expects strong growth at its joint venture with US group Best Buy.

"Best Buy Mobile US is outperforming even our expectations. Our full year results are ahead of expectations and our operating free cash flow is well ahead," said Charles Dunstone, chairman of Carphone.