Currys has reported a surge in sales, prompting the electronics retailer to raise its full-year profit forecast.
The firm informed investors today that it now anticipates an adjusted pre-tax profit of about £160m, up from the previously projected range of £145m to £155m, as reported by .
Currys described 2025's sales performance as "robust," with sustained positive like-for-like sales growth in both the º£½ÇÊÓƵ and Ireland, and the Nordics.
With a presence across six countries through 715 stores, Currys experienced a rebound in sales growth in 2024, benefiting from an extensive multi-year turnaround strategy.
For the year ending April 2024, Currys posted a pre-tax profit of £28m, a significant recovery from a pre-tax loss of £462m in the prior year.
A pre-tax profit of £160m for the year to April 2025 would represent an almost sixfold increase on the previous year's figures.
Panmure Liberum has named Currys as its top stock pick for 2025, citing its standout performance in a consumer market hampered by low growth.
Analyst Wayne Brown highlighted the "potential for lower pension contributions, cash exceptionals and interest costs," along with improved margins in the Nordic regions, which had previously been underperforming, as factors that could draw new investment.
During the pandemic, Curry's Nordic operations faced severe challenges, including aggressive discounting by competitors, leading to a nosedive in profits and the suspension of its dividend.
However, since 2023, the Nordic division has been showing signs of a robust recovery.
Following the release of these new figures, analysts at Panmure have revised their target price for Currys shares upwards from 170p to 180p. As of market close on April 2, the stock was valued at 88.95p.
Panmure analysts commented: "Not only is positive earnings momentum a key theme, but there are so many FCF catalysts over the next few years, we are surprised the shares are not higher."
They also noted an improving outlook in the Nordic economies, leading them to speculate: "The outlook in the Nordic economies appears to be improving – prompting us to question whether Nordic [earnings before interested and tax] EBIT margins could return to pre-pandemic levels sooner rather than later."
