By Heather McLean, 23 January 2002 11:45
NEWS Carphone Warehouse has warned its full year profits will not reach market expectations. The UK mobile retailer said earnings - before interest, tax and other costs - will be 10 per cent lower than predictions, as subscriber increases across Europe were weaker than expected. Shares in the Carphone Warehouse fell more than 15 per cent on the news. Executives at the company blamed poor sales in Germany, the Netherlands and Belgium for the disaster that saw European sales drop by 16 per cent.
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