Technology retailer Currys has recorded a group-adjusted profit of £22 million (before tax), a 144% increase year-over-year.
The retailer published its interim financial results today (18 December) for the half-year ended 1 November 2025, which showed that its group’s free cash flow increased 68% year-on-year to £84 million.
While total revenue for the reporting period was £4.23 billion, driven by like-for-like (LFL) revenue of +4%.
Alex Baldock, group chief executive said: “We’re pleased with the momentum we’ve built, with healthy growth in sales, profits and cash flow.
“In the Nordics, being the clear leader in an improving market, combined with strong execution, has driven another notable step forward in profits. It’s pleasing that strong top-line growth is translating into improved profitability.
“In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful.”
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The retailers also highlighted that its group-adjusted earnings before tax were £54 million, and reported earnings before tax were £42 million and it reported that its UK and Ireland operation’s earning before tax were £19 million.
It said increases in employee costs, mandated by the UK government, were not fully offset by cost savings and operating leverage.
Baldock added: “We’re the growing market leader, gaining share, and our margin and cost discipline is going a long way to mitigate headwinds and protect profits.
“In all markets, our big growth initiatives are paying off, our omnichannel model continues to win, and our growing services and solutions are great for customers and valuable to us.”
For its Nordic operations, the firm reported adjusted earnings before tax were £35 million, up 94%. It also stated that sales grew 7%.
Curry’s highlighted that its movement in net cash was down £62 million year-on-year after paying out £46 million in shareholder returns and £82 million in pension contributions.
Robyn Duffy, consumer markets senior analyst at RSM UK, said the results “point to a strong performance in what has been a mixed year for UK consumer spending”.
“Looking ahead to 2026, there are credible tailwinds for Currys on the revenue side. The upgrade cycle driven by AI-enabled devices and the Windows 11 transition should support demand for higher-value technology.
“In addition, the TV category looks set for a modest recovery as consumers replace ageing sets and trade up to larger, premium screens. A packed global sporting calendar in 2026, including the FIFA World Cup and Winter Olympics, further supports this trend.”
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