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Business News

Carphone looks to demerge next summer

Carphone Warehouse said it would spin off its TalkTalk broadband business by July 2010 at the latest yesterday as it reported results after a "significant year of achievement".

The mobile phone retailer said it expects to see signs of a consumer recovery by the end of the year, and raised its full-year dividend by 2 per cent to 4.35p. However, the company booked £205m in exceptional charges and writedowns on acquisitions, pushing it to a £72m loss for the year ending 31 March.