Currys posts higher interim profit as revenue reaches £4.23bn

UK electricals retailer Currys has reported a gross of £4.23bn ($5.65bn) for the half-year that ended 1 November.

Revenue roseate 8% connected a reported ground and 6% connected a currency-neutral basis, supported by like-for-like (LFL) maturation of 4%.

Group adjusted nett earlier taxation accrued 144% year-on-year (YoY) to £22m portion escaped currency travel roseate 68% to £84m.

In the UK and Ireland, gross grew 6% with LFL maturation of 4%, reflecting marketplace stock gains, accrued services and recognition adoption, maturation successful B2B income and enlargement into caller categories.

Adjusted net earlier income and taxes (EBIT) successful the portion declined by £4m to £19m, chiefly owed to higher government-driven workfellow costs that were lone partially offset by savings and operating leverage.

The Nordics concern reported a recovery, with gross up 7% connected a currency-neutral ground and adjusted EBIT rising 94% to £35m.

Performance was driven by maturation crossed astir merchandise categories, including a 30% summation successful Epoq kitchens, alongside unchangeable margins and outgo control.

iD Mobile subscribers accrued 21% to 2.4 million, up of the company’s 2.5 cardinal year-end target.

Currys ended the play with nett currency of £133m, an summation of £26m twelvemonth connected year, aft pension contributions of £82m and shareholder returns of £46m done stock buybacks and dividends.

The institution said trading since the play extremity has been successful enactment with committee expectations and confirmed it has maintained full-year guidance, continuing to expect maturation successful profits and escaped currency flow.

It besides confirmed an interim dividend of 0.75p per share, scheduled for outgo successful January 2026.

Currys radical CEO Alex Baldock said: “We’re pleased with the momentum we’ve built, with steadfast maturation successful sales, profits and currency flow.

“In the Nordics, being the wide person successful an improving market, combined with beardown execution, has driven different notable measurement guardant successful profits. It’s pleasing that beardown top-line maturation is translating into improved profitability.”

Earlier this month, Currys partnered with integer selling institution Jellyfish to amended the ways successful which shoppers find its exertion products crossed online channels.

Jellyfish has been tasked with expanding Currys’ visibility successful some accepted hunt engines and newer AI-led hunt environments.

"Currys posts higher interim nett arsenic gross reaches £4.23bn" was primitively created and published by Retail Insight Network, a GlobalData owned brand.

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