-
19 May 2026 07:00:47
- Source: Sharecast
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 Peak1 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/
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
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.
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.