What Currys and AO results tell us about electricals sector

Woman looking at TVs in electrical shop

Two of the UK’s biggest electricals retailers announced their full-year results this week, which revealed a mixed picture for both groups.

Currys boss Alex Baldock said the group had a “very mixed year”. While it did achieve profit before tax at the top end of its guidance to £119m, profits still faced a huge knock, dropping 38% due to weaker performance in the Nordics.

Meanwhile, AO chief executive John Roberts was “delighted” with his company’s performance as it returned to profit. He now expects to return to “top-line growth” in the medium term.

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