18th Dec 2025 09:04
(Alliance News) - Currys PLC on Thursday reported an acceleration in sales growth during the first half of its financial year and declared a dividend after passing on a payment last year.
In response, shares in the London-based electronics retailer shot up 10% to 139.87 pence each in London on Thursday morning. They traded as high as 146.00p earlier in the morning.
Currys said unaudited pretax profit in the half-year ended November 1 amounted to GBP9 million, swinging from a loss of GBP10 million. On an adjusted basis, it rose to GBP22 million from GBP9 million.
Earnings per share totalled 1.5p compared to a loss of 0.7p a year ago.
Revenue improved 8.0% to GBP4.23 billion from GBP3.92 billion, Currys said, or by 4% on a like-for-like basis.
Sales grew by 6% in the UK & Ireland, and 11% in the Nordics, or by 4% in both regions like-for-like.
This showed an acceleration from the 3% LFL growth in the UK & Ireland, and 2% LFL growth in the Nordics reported in the first 17 weeks of the trading period.
In the UK & Ireland, underlying margin progress was insufficient to fully offset government-policy-driven cost inflation.
Nordics delivered "very good results" as most product categories contributed to growth, supported by improving consumer sentiment.
"We're pleased with the momentum we've built, with healthy growth in sales, profits and cash flow," said Chief Executive Alex Baldock.
An interim dividend of 0.75p per share was declared compared to none a year ago.
Together with the ongoing GBP50 million share buyback, Currys said this brings total cash returned to shareholders to GBP75 million this financial year.
Currys said trading since the period end has been consistent with expectations and as a result full-year guidance was maintained.
The company continues to expect growth in profits and free cash flow for the year.
"We entered peak well prepared, with strong stock availability and market-leading deals that reflect our unmatched importance to our partners. Trading is in line with expectations," Baldock added.
By Jeremy Cutler, Alliance News reporter
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