LONDON, Dec 18 (Reuters) - British electricals retailer Currys reported a more than doubling in first half profit and kept its guidance for full-year growth, saying trading in the second half so far,
Currys Confident in Christmas Sales with Strong Stock Levels
By James Davey
LONDON, Dec 18 (Reuters) - British electricals retailer Currys reported a more than doubling in first half profit and kept its guidance for full-year growth, saying trading in the all-important second half, including Black Friday, is on track.
Chief Executive Alex Baldock said Currys entered the peak trading period "well prepared, with strong stock availability".
Currys, which sells consumer electricals such as computers, gaming products, televisions, fridges and washing machines, reported adjusted profit before tax of 22 million pounds ($29.4 million) in the six months to November 1 on Thursday, up from 9 million pounds in the same period last year. Traditionally it makes only a tiny portion of its profit in the first half.
Group revenue rose 8% to 4.23 billion pounds, with like-for-like revenue up 4% in both the UK and Ireland division and the Nordics.
Baldock said that while the Nordics was "improving", in the UK and Ireland the consumer environment "is more muted" with government driven costs such as higher employer social security payments "unhelpful".
"Still, we're the growing market leader (in the UK and Ireland), gaining share, and our margin and cost discipline is going a long way to mitigate headwinds and protect profits," he said.
Currys shares rose 10 percent in early trade, extending 2025 gains to 46%.
Industry data published last week showed British consumers kept a tight rein on their overall spending in November as they awaited finance minister Rachel Reeves' budget, while retailers said Black Friday sales disappointed.
Last week card and gift seller Card Factory warned on profit due to weak store sales.
Prior to the update analysts were on average forecasting a year to end-April 2026 pretax profit of 172 million pounds, up from the 162 million pounds it made in 2024/25.
($1 = 0.7482 pounds)
(Reporting by James Davey; editing by Sarah Young and Elaine Hardcastle)
