By Sarah Young LONDON, Jan 21 (Reuters) - British electricals retailer Currys raised its profit forecast on Wednesday after strong demand for iPhones, coffee machines and children's storytelling boxes
Currys Shares Surge Following Strong Christmas Sales and Profit Upgrade
Currys Performance and Market Outlook
By Sarah Young
Sales Growth in the Nordics
LONDON, Jan 21 (Reuters) - British electricals retailer Currys raised its profit forecast on Wednesday after strong demand for iPhones, coffee machines and children's storytelling boxes boosted Christmas sales, lifting its shares.
Consumer Confidence Trends
Currys said it now expects pretax profit of between 180 million pounds and 190 million pounds ($242 million and $255 million), as much as 5% above analysts' consensus forecast and up from the 162 million pounds it made in 2024/25.
Future Strategies for Growth
Its shares were up 5% in early trade, but remain 13% lower over the past three months.
Underlying sales rose 6% over the 10-week Christmas trading period, driven by a 12% increase in the Nordics, which account for 40% of group revenue. Sales in Britain and Ireland were 3% higher.
Investec analysts said the company had done a "good job" of offsetting higher costs and taxes in Britain, and that the outcome reflected a recovery in Nordic consumer demand.
Chief Executive Alex Baldock told reporters that Currys had benefited from strong growth at its mobile network unit, iD mobile, and from demand for robot floor cleaners; Tonies, a screen-free storytelling toy for children; and beauty products such as electronic face masks.
Currys performance in Britain compares favourably with other retailers that have reported shoppers treating themselves on groceries over Christmas but being more cautious on gifting.
Baldock said consumer confidence outside the holiday period was still "bumpy", and the company was putting more weight on expanding technology sales to small and medium-sized businesses.
"They're definitely in a cautious headspace," he said of British consumers.
($1 = 0.7444 pounds)
(Reporting by Sarah Young. Editing by James Davey and Mark Potter)
