Currys shares rose by more than 8% to 135.5p today after the electronics retailer upgraded its profit outlook above market expectations.
The FTSE 250 group’s like-for-like revenue growth accelerated to 6% over the 10 weeks to 10th January, with UK & Ireland up 3% and the Nordics up 12%, which it described as a standout performance.
The London-based retail giant said it is gaining market share in the UK & Ireland, supported by strong mobile sales alongside growth in computing and appliances, with omnichannel sales rising 11% year-on-year.
It also highlighted continued momentum in areas including recurring service revenue up 7%, B2B sales up 21%, new categories up 42% and credit adoption up 200bps to 25%.
In mobile, iD Mobile subscribers increased 19% year-on-year to 2.5 million, with the group adding close to 1m subscribers over the last two years.
Off the back of the performance, it now expects group adjusted profit before tax of £180m-£190m, representing 11% to 17% year-on-year growth and ahead of consensus expectations.
A £50m share buyback programme is underway, bringing total cash returned to shareholders to around £75m for the year, while year-end net cash is expected to finish above its £100m target.
“We’re pleased with our very strong trading over peak, growing sales healthily and in a disciplined way,” said Alex Baldock, chief executive of Currys.
“We now expect this year’s profits to exceed market expectations, to keep returning cash to shareholders and finish the year with more than £100m net cash.
“Our omnichannel model is winning. We gained market share in both UK&I and Nordics, in both stores and online, and our fastest growth was where customers use both channels together. This is a competitive advantage we’ll keep building.
“My heartfelt thanks to our thousands of capable and committed colleagues who are building this ever-stronger Currys.
“We go into 2026 confident in our strategy and energised by the opportunities ahead.”
The business has enjoyed a successful 12 months, with shares rising from around 91p to 135.5p in the period.
Its market cap sits at just over £1.5 billion and it was the best-performing FTSE 250 constituent today.