Currys ups outlook as picks up market share in strong festive trading

Currys PLC on Wednesday raised its annual profit guidance after reporting an acceleration in sales growth, with the Nordics delivering a ‘standout’ performance.

The London-based electrical and telecommunications retailer now expects full-year adjusted pretax profit of £180 million to £190 million, up 11% to 17% from £162 million in financial 2025, and ahead of consensus expectations for £180 million.

Currys’ financial year runs to the end of April, and it will provide a full-year trading update on May 20.

In response to the guidance upgrade, Currys shares were up 5.4% to 132.11 pence in London on Wednesday morning. The wider FTSE 250 index was up just 0.4%.

Currys said like-for-like revenue growth accelerated to 6% in the 10 weeks ended January 10, its peak sales period, compared to 4% in the first half of the financial year.

Year to date like-for-like sales growth was 5%.

UK & Ireland like-for-like revenue growth of 3% demonstrates continued momentum, Currys said, gaining market share with strong sales in mobile alongside growth in computing and appliances.

Gross margin improvements were achieved despite cost headwinds, it added.

Nordics like-for-like revenue growth of 12%, was a ‘standout performance’, Curry said, with market share gains in a ‘buoyant market with sales growth across all categories.’

‘Our omni-channel model is winning. We gained market share in both UK&I and Nordics, in both stores and online, and our fastest growth was where customers use both channels together. This is a competitive advantage we’ll keep building,’ commented Chief Executive Alex Baldock.

In addition, Currys said it expects year-end net cash to finish above its £100 million target.

Longer term, Currys continues to target at least 3% adjusted earnings before interest and tax margin in both the UK&I and the Nordics.

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