Currys ups full-year PBT guidance

Currys has revealed that it expects its full-year profit before tax to be between £115m-£120m, an increase from its previous £105m guidance.

This comes after what the company has called a “strong finish” to the year with UK and Ireland sales up 2% for the 16 weeks ended 27 April.

Alongside this, revenue in its Nordic business rose 2% as well despite a “challenging market”.

Currys also stated that its cost saving measures were “more than offsetting” inflation.

This comes after Currys completed the disposal of its Greek business on 10 April for an enterprise value of £175m.

Alex Baldock, group chief executive, said: “Our performance is strengthening, with good momentum in the UK&I, and with the Nordics getting back on track. Sales are now growing again, margins are benefiting from higher customer adoption of solutions and services, and cost discipline is good.

“All this means improved profits and, with our strong cash position, we’re well set up for the year ahead. As ever, my thanks must go to the thousands of capable and committed colleagues who are building an ever-stronger Currys and helping everyone enjoy amazing technology.”