Currys keeps profit guidance despite deteriorating Nordics business

Last month, Currys reported an underlying first half loss and cut the profit outlook for its full 2022-23 year, blaming a slowdown in its Nordic markets and unprofitable pricing by competitors.

Electricals retailer Currys reported a further deterioration in trading at its Nordics business over the Christmas period but kept its recently downgraded financial guidance for its full year.

The group said like-for-like revenue in its UK and Ireland business fell 5% in the 10 weeks to January 7, year-on-year, but achieved better than forecast profits through gross margin increases and cost savings.