Currys Ireland sales climb to €230m

The consumer electronics and appliances specialist has 16 stores in Ireland

Sales at electronics giant Currys Ireland grew 7.9% to €230m, the company has reported.

Sales at electronics giant Currys Ireland grew 7.9% to €230m, the company has reported.

Currys has 16 stores in Ireland, focused on consumer electronics, personal computers, domestic appliances, photographic equipment, and communication products. The company reported gross profits of €16.9m in its Republic of Ireland operations for the year ended in April. Sales increased by 7.9% to €230m from €213m a year previous. The company has net assets of €27.5m.

Employee costs were €20m, including wages and salaries of €17.75m. Currys Ireland had 600 employees, 516 in retail, 48 in corporate, and 36 in services.

Despite the increased revenue, which was boosted by new games launches, including the release of the Nintendo Switch 2, the directors note that the "economic climate and competitive environment in Ireland remains challenging", the financial statement said.

Currys Ireland also introduced a "store mode" in October, where in-store employees have immediate access to online prices. 

Currys plc, the UK-headquartered parent company of Currys Ireland, said last week that AI technology and gaming launches have helped drive higher sales.

The company said its financial performance was improving despite a "muted" consumer environment and "unhelpful" cost pressures.

It reported revenues of £4.2bn (€4.8bn) for the six months to November, up 4% when compared like-for-like with the same period last year. Adjusted pre-tax profits more than doubled to £22m (€25m) year-on-year.

Currys plc also highlighted surging demand for smaller categories like gaming accessories, emerging technology like health and beauty innovations, and a 12% jump in the sale of Windows laptops.

Mobile products sold well over the half-year, with its mobile network brand iD increasing its share of the wider market, the firm said.

But it reported a dip in the sale of consumer electronics, including TVs and speakers, which the retailer attributed to there being a spike in demand last year during the men's Euro 2024 football tournament.

Chief executive Alex Baldock said it was "pleasing that strong top-line growth is translating into improved profitability. In the UK and Ireland, the consumer environment is more muted, and cost headwinds are unhelpful."

Currys hailed an improved performance for its Nordics arm, where evenues increased by 4% on a like-for-like basis for the region, which has more than 400 stores both owned and franchised, and earnings grew.

Additional reporting by PA