Shares in Currys (LON: CURY) rose sharply on Wednesday after the electricals retailer reported strong full-year results, before paring its gains in early trading.
The stock touched a high of 163.6p, up around 2.5% from Tuesday’s close of 159.6p, before slipping back to trade around 161.6p, down over 1%.
For the year ended 2 May 2026, Currys reported group adjusted pre-tax profit of £191m, up 18% year-on-year, alongside free cash flow of £157m, up 5%. Revenue rose 6% to £9.25bn, with like-for-like sales up 4% across both the UK & Ireland and Nordics divisions.
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The Board proposed a final dividend of 2.25p, taking the full-year payout to 3.0p — double last year’s level — and announced a new £50m share buyback starting immediately.
Leadership Transition
Alongside the results, Currys confirmed that Fredrik Tønnesen, currently head of the Nordics business, will succeed Alex Baldock as Group Chief Executive from 3 August.
Baldock, who has led the retailer through a period of debt reduction, balance-sheet repair and returning shareholder cash, said he would remain “a loyal Currys customer, advocate and shareholder for life.”
Outlook
Management said trading in the new financial year had been “very solid” and that the Group was comfortable with current market consensus, targeting continued growth in higher-margin recurring Services revenue and further share buybacks.
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