Currys has made a “strong finish” to its financial year, with its annual profits set to come in ahead of expectations after sales returned to growth.
The electrical retailer anticipates full year adjusted pre-tax profits of between £115 to £120m, up from the previous guidance of at least £105m.
In the 16 weeks to 27 April, like-for-like sales in the UK and Ireland increased by 2% amid improved trading momentum. The retailer also flagged that its cost savings were “more than offsetting” inflation.
Revenue in its Nordic business also lifted 2% despite a “challenging” market.
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Currys chief executive Alex Baldock said: “Our performance is strengthening, with good momentum in the UK and Ireland, and with the Nordics getting back on track.
“Sales are now growing again, margins are benefiting from higher customer adoption of solutions and services, and cost discipline is good.
“All this means improved profits and, with our strong cash position, we’re well set up for the year ahead.”
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