PHONE and electrical goods group Carphone Warehouse today said it is well placed to capitalise on improving markets, in a trading update for the first quarter.

The business, which earlier this year demerged from its TalkTalk phone division, operates as Carphone Warehouse Europe (CPW), Best Buy in a joint venture with the US pone and stores chain, and as a partner in Virgin Mobile France.

It revealed today that CPW’s three month like-for-like sales were 3.3% down at £756m, due to a shift from 18 month to 24 month contracts, while sales growth across the rest of Europe was “positive”.

Best Buy saw connections continue at its US stores, growing 12.3% to 1.6m, and a 28% increase in like-for-like sales.

Its UK store expansion is on hold while the group assesses its options. Aintree’s Racecourse Retail Park was among the first three ‘big box’ stores to open last year and the business now occupies a total of 10 sites.

The Virgin Mobile business increased its customer base by 17.1% to 1.98m and posted a 16.4% jump in revenues for the quarter of £95.5m.

Chief executive Roger Taylor said: “Altogether, a very satisfactory start to the year.”