Currys’ Shares Jumps as ‘Performance Continues to Strengthen’

Currys (LON:CURY) delivers robust performance in its unaudited half-year results to November 1, 2025, with significant improvements in profitability and cash flow.

The electronics retailer reported a 144% year-over-year increase in group adjusted profit before tax, reaching £22 million, alongside a 68% surge in group free cash flow to £84 million.

Shares surged 10% in early Thursday trading.

The UK & Ireland (UK&I) segment exhibited strong momentum, with revenue climbing 6%. This growth was bolstered by market share gains, an 11% rise in recurring service revenue, a 160 basis point increase in credit adoption to 23.3%, a 16% jump in B2B sales, and a 35% expansion in new categories. iD Mobile subscribers also saw a 21% increase to 2.4 million, surpassing expectations.

The Nordics region experienced an accelerating recovery, with revenue up 7% on a currency-neutral basis. This growth was spurred by gains across most product categories, including a 30% increase in Epoq kitchens sales. Currys is actively returning value to shareholders, having completed £30 million of its £50 million share buyback program and declaring an interim dividend of 0.75p, bringing total cash returned to shareholders this year to £75 million.

Group revenue reached £4,230 million, an 8% increase year-over-year (6% currency neutral), driven by a 4% rise in like-for-like (LFL) revenue. Group adjusted EBIT stood at £54 million, up £13 million year-over-year, while reported EBIT reached £43 million, up £14 million year-over-year.

While UK&I LFL revenue grew by 4%, adjusted EBIT decreased by £4 million to £19 million due to government-driven increases in colleague costs that were not fully offset by cost savings and operating leverage. In contrast, the Nordics saw LFL revenue increase by 4%, with adjusted EBIT soaring by £17 million to £35 million, driven by higher sales, stable gross margins, and tightly controlled operating costs.

The movement in net cash was £(51) million, a decrease of £(62) million year-over-year, primarily due to an £82 million pension contribution and £46 million in shareholder returns. The period ended with net cash of £133 million, up £26 million year-over-year, and a pension deficit of £(16) million.

The positive results, particularly the strong profit and cash flow growth, could act as a catalyst for a short-term increase in Currys' stock price. The ongoing share buyback program and dividend declaration further support investor confidence.

“We're pleased with the momentum we've built, with healthy growth in sales, profits and cash flow,” said Alex Baldock, Group Chief Executive. “In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful. Still, 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.”