Currys raises profit outlook for second time this year

Currys has increased its profit guidance for the second time in four months following “robust” trading.

The electronics retailer said it had enjoyed continued positive like-for-like sales growth in its UK and Ireland business as well as in the Nordics.

As a result, it has increased its final year adjusted pre-tax profit from between £145m and £155m to be around £160m.

Currys raised its outlook in January after a “strong peak trading”.

UK and Ireland sales rose 2% for the 10 weeks ended 4 January as the business experienced strong sales across mobile, gaming and premium computing, which were offset by weaker trends in TV.

Earlier this week the retailer unveiled its largest-ever annual investment in store safety measures as it ramped up measures to protect colleagues and deter shoplifters.

As part of the investment, the retailer is rolling out new technologies and security measures across its store estate. These include upgraded public display monitors in high-risk stores, enhanced product security, intelligence collection, and increased spending on security personnel and surveillance.

The retailer will report its full years on 21 May,

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