Currys upgrades profit outlook after strong peak trading and Nordic-led growth

Currys (LSE:CURY) reported a robust peak trading performance over the 10 weeks to 10 January 2026, with group like-for-like revenue rising 6%. Growth was driven by a solid 3% increase in the UK & Ireland and a standout 12% uplift in the Nordics, where market conditions continued to improve and sales advanced across all countries and product categories.

The retailer said it gained market share in both regions, supported by double-digit growth in omnichannel sales. Higher-margin, recurring revenue streams also performed well, including services, credit and B2B, while the iD Mobile customer base expanded 19% year on year to 2.5 million subscribers.

Reflecting this momentum, Currys raised its guidance for adjusted profit before tax to between £180m and £190m, ahead of current market expectations. The group also confirmed it remains on track to finish the year with net cash in excess of £100m. Alongside this, management reiterated its commitment to shareholder returns, highlighting the ongoing £50m share buyback programme and the payment of an interim dividend.

Strategically, Currys continues to focus on disciplined capital allocation and maintaining a net cash balance sheet, while targeting an adjusted EBIT margin of at least 3% in both the UK & Ireland and Nordic regions over the longer term. While profitability remains an area for further improvement, the company’s strong cash generation and attractive valuation provide support, even as technical indicators present a more mixed near-term picture.

More about Currys plc

Currys plc is a leading omnichannel retailer of technology products and services, operating online and through more than 700 stores across six countries. Trading as Currys in the UK & Ireland and Elkjøp in the Nordics, the group is the market leader in all its territories, selling consumer electronics, appliances and related services. Currys also operates the iD Mobile virtual network in the UK, runs one of Europe’s largest technology repair centres and manages an extensive distribution network, positioning it as a scale player in the consumer technology market.