Currys Posts Annual Profit Beat but Lowers Guidance on Demand Fears By


By Scott Kanowsky –London-listed shares in Currys PLC (LON:) rose sharply on Thursday, as the British electronics retailer posted better-than-expected annual pre-tax profit – but lowered its earnings guidance for its next two financial years.

Currys reported adjusted profit before tax of £186 million for the year to April 30, a rise of 19% compared to the previous period and above estimates of £155 million. The group said cost savings and gross margin improvements helped make up for a jump in business rate taxes and spending on IT cloud infrastructure.

But Currys warned that the market environment will be “challenging” throughout the rest of the year, as it said it expects adjusted pre-tax earnings for 2022/23 to be between £130 million and £150 million. It gave the market forecast as £145 million.

The group also estimated that its annual profit margin for 2023/24 will come in at 3%, down from 4%.

The company – which was created by a merger between Dixons and Carphone Warehouse in 2014 – said it lowered its forecasts due in part to the impact of soaring inflation and economic headwinds on future demand.

“Clearly, the outlook for consumer spending is uncertain and although the tech market is still larger than pre-pandemic we are taking a prudent view of our market,” Currys said.

Currys added that it remains in position to confront these issues, pointing to its international offerings, the “essential” nature of some of its products and services, and its balance sheet strength.

Leave a Comment

Leading the way

Let's build a better world together

Project planning
Design expertise
Great qualifications

Nullam vestibulum finibus sapien, id consequat mauris tempus auctor.


90 Newport St., Natick, MA 01760

83 Taylor Street, Kings Mountain, NC 28086

22 Birch Hill St., Villa Rica, GA 30180

Support requests

Nullam scelerisque leo felis, quis congue mauris tristique in. Suspendisse pulvinar, felis eu facilisis mattis, turpis odio luctus nisi, et ultrices velit enim quis lacus.

Request a quote

[Insert your contact form here]


Vivamus vehicula dictum elit at bibendum. Etiam finibus eros ut urna auctor ullamcorper. Sed at erat eget nisl rutrum ultrices sed eu ex.


Sign up to receive the latest news and trends from our company.

More questions? Get in touch