Currys PLC (LSE:CURY) has revised its profit guidance higher after sales in the 10 weeks to 6 January wound up stronger than it expected.
The announcement came after two potential bidders walked away last week, the latter, China's JD.com, late on Friday, after the board of the electronics retailer rejected what it said were lowball offers.
Adjusted profit before tax for the current year is expected to be at least £115 million, the FTSE 250-listed group said, above its previously guidance for £105-115 million.
Chief executive Alex Baldock said the recent focus has been to get sales in the Nordics region "back on track", while keeping up the "encouraging" momentum in the UK and Ireland.
“Both are progressing well, despite still-challenging markets, and we now feel confident to raise this year's profit expectations to at least the top of our previous guidance.
“Stronger trading, selling more of the solutions and services that boost margins and build customers for life, and strong cost discipline have all been important.”
Currys added that the agreed disposal of its business in Greece is on track to be completed in the first half of April, which it said would result in the group finishing the financial year in a net cash position.
Shares added 4% to 59p in opening Monday exchanges.
The stock fell around 5% on Friday after Chinese tech giant JD.com revealed it would not be making a bid for the electronics retailer, following Elliott Advisors also withdrawing its intention to make an offer after Currys' board showed little interest in being taken private.
Curry's shares had been trading at just over 47p before the Elliott bid was made public, spiking above 72p after a second bid from Elliott.