Currys holds guidance as interims soar

(Sharecast News) - UK retailer Currys held annual guidance as it reported a surge in half-year profit, with recent trading in line with expectations. The company, which sells whitegoods, televisions and computers among other products, more than doubled adjusted pre-tax profit for the six months to November 1 to £22m from £9m a year ago.

Group revenue rose 8% to £4.23bn as like-for-like sales in both the UK and Ireland division and the Nordics up by 4%.

"We entered peak well prepared, with strong stock availability and market-leading deals that reflect our unmatched importance to our partners. Trading is in line with expectations," said chief executive Alex Baldock.

Consensus forecasts ahead of the interim results were for annual pre-tax profits of £172m, an increase on the £162m Currys made in 2024/25.

"In the Nordics, being the clear leader in an improving market, combined with strong execution, has driven another notable step forward in profits. It's pleasing that strong top-line growth is translating into improved profitability," Baldock said.

"In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful. Still, we're the growing market leader, gaining share, and our margin and cost discipline is going a long way to mitigate headwinds and protect profits."



Reporting by Frank Prenesti for Sharecast.com