Shares in Currys (LON:CURY) surged 14% on Tuesday after the technology retailer lifted its full-year profit guidance, signalling strong momentum across both its UK operations and its Nordics business.
The company now expects adjusted profit before tax of around £191 million for the financial year ended 2 May 2026, up 18% year-on-year and ahead of its previous range of £180 million to £190 million. The move also sits 2% above consensus estimates.
Group like-for-like sales climbed 4% for the full year ended 2 May 2026, with the UK & Ireland segment up 3% and the Nordics up 6%, meaning the retailer gained market share in both territories. Crucially, the 16-week post-peak period ending 2 May maintained this 4% growth rate, demonstrating that the momentum extended well beyond the Christmas trading season.
The UK & Ireland division’s adjusted earnings grew slightly year-on-year, bolstered by strong performance in Services, B2B operations, and emerging product categories. The Nordics segment, which accounts for 40% of group sales, delivered particularly robust profit growth with share gains evident in Kitchens and computing components. iD Mobile, the company’s mobile virtual network operator, also performed well with subscribers climbing 18% to 2.6 million.
Currys finished the period with net cash exceeding £170 million despite returning £74 million to shareholders during the year. The company said it has felt no impact from the conflict in the Middle East, leaving the outlook undimmed by geopolitical concerns.
Citi Research raised earnings forecasts for both 2026 and 2027 following the update, citing slightly lower UK & Ireland trading in 2027 but offset by foreign exchange tailwinds in the Nordics.
Chief executive Alex Baldock, who delivered the trading update, confirmed the company’s strong performance and said recent trading had remained “very solid” despite global uncertainties.
Baldock announced in March that he plans to step down after eight years leading the business, with his move to Boots confirmed for autumn 2026. The company said its recruitment process for his successor is progressing well, with the board confident in the business’s strategic direction under current leadership and positioned for continuity.