Mobile phone retailer Carphone Warehouse connected fewer new mobile phone customers than expected over Christmas.
The company reported an 11 per cent rise in mobile phone connections in the 13 weeks to December 29th, below the 15 per cent rise analysts had been expecting, and driving its shares as much as 5.8 per cent lower today.
The company blamed tough trading conditions for retailers but said its view on the future was unchanged and that broadband was growing well.
Carphone Warehouse reported broadband growth of 118,000 customers, in line with expectations.
Analysts welcomed the outlook but said results were mixed. Earlier this morning, Carphone's shares were up 1.7 per cent to 310 pence.
Carphone finance director Roger Taylor said the outlook for the current and following year was unchanged.