Currys has raised its annual profit by 37% to £162m for the year to 3 May 2025, coming in above market expectations after a year of strong UK sales and growing demand for tech services and credit.
Group revenue at the electricals giant increased 3% year-on-year to £8.7bn, with UK and Ireland like-for-like sales up 4%.
Recurring service revenue climbed 12%, credit sales grew 14% to £1.1bn, and mobile network iD Mobile added 450,000 new subscribers, up 26% to 2.2m.
Statutory pre-tax profit rose to £124m from £28m a year earlier.
Chief executive Alex Baldock said: “Currys’ performance continues to strengthen and the business has real momentum.
“We’re uniquely placed not just to sell customers amazing technology, but to help them enjoy it to the full. Customers are increasingly adopting our credit, setup, installation, repair and connectivity services, building valuable recurring revenues for Currys.”
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Adjusted EBIT in the UK and Ireland rose 8% to £153m as sales growth and gross margin gains offset cost inflation. Currys gained 50bps of market share across key categories, citing strong performance in gaming, TVs, laundry, and computing.
It said in-store improvements such as electronic shelf-edge labels and reconfigured layouts boosted both experience and sales, while order and collect revenue grew 15% to represent 34% of online sales.
Baldock continued: “We’re now seen as the home of AI-enabled tech and our investments in new product categories and serving B2B customers are showing early signs of success.
“Our brands – Currys in the UK&I and Elkjøp in the Nordics – are stronger than ever. A new generation of customers is discovering Currys, thanks to brilliant social campaigns which have delivered industry-leading levels of engagement. I’m pleased that thanks to all this hard work we can resume the dividend. We aim to return more of our growing free cash flow to shareholders.”
In the Nordics, adjusted EBIT climbed 24% on a currency neutral basis to £72m.
While like-for-like sales were flat, margins improved by 60bps and performance strengthened in the second half of the year.
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