UK electricals retailer Currys has reported a revenue of £4.23bn ($5.65bn) for the half-year that ended 1 November.
Revenue rose 8% on a reported basis and 6% on a currency-neutral basis, supported by like-for-like (LFL) growth of 4%.
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Group adjusted profit before tax increased 144% year-on-year (YoY) to £22m while free cash flow rose 68% to £84m.
In the UK and Ireland, revenue grew 6% with LFL growth of 4%, reflecting market share gains, increased services and credit adoption, growth in B2B sales and expansion into new categories.
Adjusted earnings before income and taxes (EBIT) in the region declined by £4m to £19m, primarily due to higher government-driven colleague costs that were only partly offset by savings and operating leverage.
The Nordics business reported a recovery, with revenue up 7% on a currency-neutral basis and adjusted EBIT rising 94% to £35m.
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By GlobalDataPerformance was driven by growth across most product categories, including a 30% increase in Epoq kitchens, alongside stable margins and cost control.
iD Mobile subscribers increased 21% to 2.4 million, ahead of the company’s 2.5 million year-end target.
Currys ended the period with net cash of £133m, an increase of £26m year on year, after pension contributions of £82m and shareholder returns of £46m through share buybacks and dividends.
The company said trading since the period end has been in line with board expectations and confirmed it has maintained full-year guidance, continuing to expect growth in profits and free cash flow.
It also confirmed an interim dividend of 0.75p per share, scheduled for payment in January 2026.
Currys group CEO Alex Baldock said: “We’re pleased with the momentum we’ve built, with healthy growth in sales, profits and cash flow.
“In the Nordics, being the clear leader in an improving market, combined with strong execution, has driven another notable step forward in profits. It’s pleasing that strong top-line growth is translating into improved profitability.”
Earlier this month, Currys partnered with digital marketing company Jellyfish to improve the ways in which shoppers locate its technology products across online channels.
Jellyfish has been tasked with increasing Currys’ visibility in both conventional search engines and newer AI-led search environments.
