Retailer Currys hails sales rise after tech demand

Electronics retailer Currys has revealed stronger sales despite a “subdued consumer backdrop” thanks to an artificial intelligence technology boost.

The operator says its performance is continuing “to strengthen” and “trending in the right direction on every dimension that matters.”

The firm saw adjusted pre-tax profits lift by 18 per cent to £191 million for the year to May 2.

The rise came after group revenues increased by six per cent to £9.25 billion for the year, with growth in both the UK and Nordics regions.

In the UK, sales rose three per cent to £5.4 billion for the year.

It said computing was particularly strong, as it benefited from artificial intelligence technology sales and gaming launches including the Nintendo Switch 2.

The company said every category grew apart from consumer electronics, where it was knocked by “soft” demand for TVs.

Outgoing chief executive Alex Baldock – who is set to leave for the top job at high street pharmacy and beauty chain Boots – said: “Currys is trending in the right direction on every dimension that matters.

“The outside world remains uncertain, and we are not counting on it to do us any favours.

“There is much more in the tank here.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.