REG - Currys PLC - Performance continues to strengthen

CurrysAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260519:nRSS7813Ea&default-theme=true

RNS Number : 7813E  Currys PLC  19 May 2026

19 May 2026

 

 

We Help Everyone Enjoy Amazing Technology

Trading update for year ending 2 May 2026

Performance continues to strengthen; profits to be ahead of guidance

 

Currys plc, a leading omnichannel retailer of technology products and
services, today issues the following trading update for the year ending 2 May
2026.

 

 •    Group like-for-like sales growth strong at +4% for both the 16-week period
      since Peak(1) and the full year
 •    Full year adjusted PBT expected to be around £191m, +18% YoY (previously
      guided to £180-190m)
 •    £74m of cash returned to shareholders during the year
 •    Finished the year with net cash of more than £170m
 •    Process to appoint a new Group Chief Executive is progressing well

 

 •    UK & Ireland adjusted EBIT expected to grow slightly YoY
      o  Continued robust trading driven by market share gains and strong growth in
      Services, B2B and new categories
      o  Sales growth and stable gross margin more than offset cost headwinds
      o  iD Mobile subscribers +18% YoY to 2.6m

 

 •    Nordics adjusted EBIT showing strong growth YoY
      o  Recent growth driven by market share gains and very strong performance in
      Kitchens and new categories such as computing components
      o  Gross margin broadly stable with costs tightly controlled

 

 Like-for-like Sales - YoY      H1     Peak    Post-Peak       H2     Full year 
   UK & Ireland                 +4%    +3%     +4%             +3%    +3%
   Nordics                      +4%    +12%    +4%             +8%    +6%
 Group                          +4%    +6%     +4%             +5%    +4%

 

Alex Baldock, Group Chief Executive

"We finished a good year well, with strong performance in the UK&I and the
Nordics, a region that represents 40% of Group sales and that grew especially
strongly.

 

"Profits grew +18% and free cash flow increased again, from a strategy that is
delivering ever-stronger results for colleagues, customers, shareholders and
society.

 

"Recent trading has been very solid; we've not yet seen an impact from the
Middle East conflict, and our energy costs are well hedged for the coming
year.

 

"This performance, combined with our strong balance sheet, means we are well
positioned to navigate any market volatility ahead, tap into exciting growth
opportunities and continue returning capital to shareholders.

 

"As always, my thanks go to the thousands of capable and committed colleagues
who continue to build an ever- stronger Currys, and who help customers enjoy
amazing technology every day."

 

1.    Peak defined as 10 weeks ended 10 January 2026 and post-peak defined
as 16 weeks ended 2 May 2026.

2.  Company compiled consensus for 2025/26 is available on the corporate
website: https://www.currysplc.com/investors/analyst-coverage-and-consensus/
(https://www.currysplc.com/investors/analyst-coverage-and-consensus/)

Next scheduled announcement

The Group is scheduled to publish its full year results on 2 July 2026.

 

For further information

 Dan Homan       Investor Relations                   +44 (0)7401 400442
 Carla Fabiano   Investor Relations                   +44 (0)7460 944523
 Tatiana Raikes  Communications and External Affairs  +44 (0)7885 155196
 Tim Danaher     Brunswick Group                      +44 (0)2074 045959

 

Information on Currys plc is available at www.currysplc.com
(http://www.currysplc.com)
Follow us on LinkedIn and X: @currysplc

 

About Currys plc

Currys plc is a leading omnichannel retailer of technology products and
services, operating online and through 702 stores in 6 countries. We Help
Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys and in the UK we operate our own
mobile virtual network, iD Mobile. In the Nordics we trade under the Elkjøp
brand. We're the market leader in all markets, able to serve all households
and employing more than 25,000 capable and committed colleagues.

 

We help everyone enjoy amazing technology. We believe in the power of
technology to improve lives, helping people stay connected, productive, fit,
healthy, and entertained. We're here to help everyone enjoy those benefits and
with our scale and expertise, we are uniquely placed to do so.

 

Our full range of services and support makes it easy for our customers to
discover, choose, afford and enjoy the right technology to the full. The
Group's operations include one of Europe's largest technology repair
facilities, a sourcing office in Hong Kong and an extensive distribution
network, centred on Newark in the UK and Jönköping in Sweden, enabling fast
and efficient delivery to stores and homes.

 

We're a leader in giving technology a longer life through repair, recycling
and reuse. We're reducing our impact on the environment in our operations and
our wider value chain and we aim to achieve net zero emissions by 2040. We
offer customers products that help them save energy, reduce waste and save
water, and we partner with charitable organisations to bring the benefits of
amazing technology to those who might otherwise be excluded.

 

Certain statements made in this announcement are forward-looking. Such
statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from any expected future events or results referred to in these
forward-looking statements. Unless otherwise required by applicable laws,
regulations or accounting standards, we do not undertake any obligation to
update or revise any forward-looking statements, whether as a result of new
information, future developments or otherwise. Information contained on the
Currys plc website or the 'X' feed does not form part of this announcement and
should not be relied on as such.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEVLFFQELBBBD



            Copyright 2019 Regulatory News Service, all rights reserved