Currys increases profit outlook despite lacklustre Christmas sales

Shares in Currys have fallen 24% over the past year

Currys said like-for-like revenue in the UK and Ireland business fell 3% in the 10 weeks to January 6.

Appliance and electronics retailer Currys forecasted full-year profit ahead of market expectations after stable gross margins and cost savings offset a fall in underlying sales over the Christmas trading period.

The seller of cookers, fridges, washing machines, TVs, computers and mobile phones, said it now expected a full year 2023/24 adjusted profit before tax of £105m (€122m) to £115m.