Electricals giant Currys has upgraded its full year profit expectations and its board has said its performance is good enough to warrant resuming the payment of cash dividends.
In a trading issue for the 53-week year ending May 3, 2025, Currys said full year profit before tax was expected to be around ÂŁ162mâup 37% year-on-year.
Group like-for-like sales growth accelerated to 4% in the 17 weeks to May 3, 2025, and Currys reported a significant growth in free cash flow due to lower interest costs and tight working capital management.
The retailer finished the year with net cash of more than ÂŁ180m, and the board has reinstated cash dividends for shareholders.
UK and Ireland adjusted EBIT is expected to be in line with consensus, with like-for-like sales in the region jumping 3%, and sales growth and margin improvements âmore than offsettingâ increased costs.
Currys also reported that adjusted EBIT in the Nordics showed strong year-on-year growth.
Group chief executive Alex Baldock said: âWe finished another year of strengthening performance on a high note with encouraging momentum and accelerating sales growth in both the UK&I and the Nordics. In both, weâve grown profits by delivering sales growth, market share gains and gross margin increases. In the Nordics, weâve also shown especially strong cost discipline in a still-challenging market.
âCashflow was very healthy. This further strengthening of our balance sheet ensures our resilience and allows the resumption of dividends.
âAs 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.â
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