Currys reports 7% sales growth while maintaining its annual outlook

Currys ($CURY) reported 7% group like-for-like sales growth over the first 17 weeks of its financial year. The UK and Ireland increased 6%, while the Nordics grew 9%. The update shows both major regions contributing to expansion, with the company maintaining its full-year expectations rather than raising its profit forecast on the back of the stronger start.

Its services businesses also continued to develop. iD Mobile subscribers exceeded 2.7 million, up 16%, while flexpay credit penetration increased to 23.6%. The company’s reference point for annual adjusted pre-tax profit was a company-compiled analyst consensus of approximately £199 million, not a newly issued guaranteed target. Management reported stable margins, keeping the distinction clear between stronger sales momentum and the profit outcome that still needs to be delivered over the remainder of the year.

Sources:

• Currys — AGM trading update