Losses at mobile phone group soar

Losses at mobile phone retailer Carphone Warehouse increased by 38.3 per cent in 2011, amidst “poor trading conditions”.

According to the company’s latest set of accounts, losses advanced by 38.3 per cent to €4.7 million in the year to April 2nd, 2011, as sales fell slightly.

Turnover at the retailer fell from €107.2 million in 2010 to €103.5 million in 2011. The company operates more than 80 shops around the country.

According to the accounts, the directors intend to “continue to develop the activities” of the company, while its parent company, Best Buy Europe Distributions, indicated that it would provide “necessary” financial support to the company “for the foreseeable future”.

Staff numbers at the company grew to 475 in 2011, up from 455 the previous year.

Directors received remuneration of €900,763, up from €300,455 in the previous year.

The directors recommended that no dividend should be paid.