Currys has announced it now expects its profit before tax to total £160m in the year to 3 May, after previously increasing its expectations in January.

The electronics retailer previously said this figure would reach between £145m and £155m.

Currys said that in the period since 4 January, trading had been "robust", with continued "positive like-for-like sales growth" in the UK and Ireland and in the Nordics.

It also expects to finish the year in a "strong net cash position".

Investment director at AJ Bell, Russ Mould, said: "Currys continues to impress after brushing off interest from private equity last year. Sales in the company’s UK operation are solid and the company has seen a meaningful recovery in its Nordics business.

"Currys is one of the last remaining electronics retailers with a physical presence on the high street and it is making a virtue of this status by offering handholding when people are buying increasingly complex consumer technology. It also offers a full range of services from credit to delivery, installation, repairs and recycling, and these help it to stand out from the crowd.

"A notable feature of Currys’ recent performance is the strong cash flow which puts the company in an enviable position relative to other retailers. It potentially allows Currys to go from being prey to predator in the sector, should it spy the right opportunity."

The retailer will announce a full-year trading update on 21 May.

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