Currys has increased its full-year profit guidance for the third time this year after upping its adjusted pre-tax profit expectation to around £162m.

This would represent a 37% jump on the retailer’s profit before tax last year.

Currys, issuing a preliminary trading update for the year ending 3 May, said it had finished “another year of strengthening performance” on a high note with accelerating sales growth in both of its two main markets, in the UK and Ireland (UK&I) and the Nordics.

The retailer’s peak trading period, which ran for the 10-week period to 4 January 2025, saw UK&I sales increase by 2% on last year while Nordics trading was up by 1%. The group’s post-peak period, covering the 17 weeks to 3 May, saw UK&I trading up by 4% with Nordics sales up by 3%.

“In both [markets], we've grown profits by delivering sales growth, market share gains and gross margin increases,” Currys group chief executive, Alex Baldock, said. “In the Nordics, we've also shown especially strong cost discipline in a still-challenging market.”

Currys also reported “significant” growth in its free cash flow, which benefitted from lower interest costs and tight working capital management. The retailer added that it would finished the year with the net cash of more than £180m.

“Cashflow was very healthy,” Baldock added. “This further strengthening of our balance sheet ensures our resilience and allows the resumption of dividends.”

Currys will publish its annual results in full on 3 July.

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