UK's Currys FY revenue slightly misses; co announces £50 mln share buyback

Currys

Today 07:12

Overview
UK technology retailer's full-year revenue rose 6% but slightly missed analyst expectations
Adjusted EBIT and adjusted pretax profit slightly beat analyst expectations
Company announced new £50 mln share buyback and doubled full-year dividend

Outlook
Currys says early-year trading has been very solid and is comfortable with market consensus
Company targets at least 2.8m iD Mobile subscribers before year end
Currys plans total cash shareholder returns of about £85m in 2026/27

Result Drivers
MARKET SHARE GAINS - UK & Ireland growth driven by market share gains in both channels and strategic initiatives such as recurring Services revenue and credit sales
NORDICS PROFIT GROWTH - Nordics segment profit rose on operating leverage and cost control, with improved consumer sentiment supporting sales

Company press release: ID:nRSB6799Ka

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Slight Miss*
GBP 9.25 bln
GBP 9.28 bln (8 Analysts)
FY Adjusted EBIT
Beat
GBP 255 mln
GBP 248.98 mln (8 Analysts)
FY Adjusted Pretax Profit
Slight Beat*
GBP 191 mln
GBP 190.41 mln (7 Analysts)
FY Adjusted EBIT Margin
 
2.80%
 
FY Pretax Profit
 
GBP 153 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the computer & electronics retailers peer group is "buy"
Wall Street's median 12-month price target for Currys PLC is GBp180.00, about 10% above its July 1 closing price of GBp163.60
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)