British electricals retailer Currys reported that first-half profit more than doubled and reiterated its full-year growth outlook, saying trading during the crucial second half — including the Black Friday period — remains on track.
Chief executive Alex Baldock said the group entered the peak trading season “well prepared, with strong stock availability.”
Currys, which sells consumer electronics ranging from computers and gaming products to televisions, fridges and washing machines, posted an adjusted profit before tax of £22 million for the six months to November 1, compared with £9 million a year earlier. The retailer typically generates only a small share of its annual profit in the first half.
Group revenue rose 8% to £4.23 billion, with like-for-like sales up 4% across both its UK and Ireland business and the Nordics division.
Baldock said trading in the Nordics is “improving,” while the consumer backdrop in the UK and Ireland remains “more muted,” citing government-driven cost pressures such as higher employer social security payments as “unhelpful.”
“Even so, we are the growing market leader, gaining share, and our margin and cost discipline is helping to offset headwinds and protect profitability,” he said.
Currys shares jumped 10% in early trading, extending gains so far in 2025 to 46%.
Industry figures released last week showed UK consumers continued to restrain spending in November ahead of finance minister Rachel Reeves’ budget, while retailers reported that Black Friday sales fell short of expectations.
