Currys PLC (LSE:CURY) shares surged 14% to 101.4p after the retailer raised its profit guidance again, following strong trading since January. The electricals chain now expects an adjusted pre-tax profit of around £160 million for the year to May 2025, above its earlier forecast of £145–155 million.
Sales have picked up in both the UK & Ireland and, notably, in the Nordics - where growth has been sluggish for years. Analysts at Shore Capital welcomed the turnaround, calling it a positive shift after a long drag on performance.
The company also expects strong year-end cash levels. This marks the second time Currys has upgraded its outlook this year, with momentum continuing from a strong Christmas trading period. Shares topped 100p for the first time since 2022.
"If Currys can continue to deliver on like-for-like growth across its markets then we would expect a re-rating of the stock," said Shore Capital.
Panmure Liberum, meanwhile, has upgraded its profit forecast for the fourth time this year, adding 4% to the number.
Repeating its 'buy' advice and raising its price target by 10p to 180p, it told investors: "Not only is positive earnings momentum a key theme but there are so many free cash flow catalysts over the next few years, we are surprised the shares are not higher."