Currys raises annual profit outlook for third time this year
Electricals retailer Currys raised its annual profit forecast for the third time this year, saying it now expects adjusted pretax profit to be around £162m (€193.7m).
In early April, the retailer raised its annual adjusted pretax profit forecast to around £160m (€190m) for the 2024/25 year after robust trading since early January across the UK and Ireland.
It had raised its annual profit estimate in January too. The seller of consumer electricals such as computers, washing machines and TVs said like-for-like sales rose 4% since early January, driven by its UK and Ireland division and a sales recovery in the Nordics business .
Rising sales and improving profit margins were more than offsetting cost increases, it said.
"Cashflow was very healthy. This further strengthening of our balance sheet ensures our resilience and allows the resumption of dividends," CEO Alex Baldock said in a statement.
In January, Currys said it would declare a dividend of around 1.3 pence a share alongside full-year results in July - its first since an interim payout in its 2022/23 year.
Reuters
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