Currys PLC (LSE:CURY) shares rose 5% to 132p after the retailer dialled up its profit expectations for the year after reporting 6% group like-for-like revenue growth over the peak trading period.
Sales in the UK & Ireland were up 3% in the 10 weeks to 10 January, with the company gaining market share in mobile and recording growth in computing and appliances.
Omnichannel revenue rose 11% year-on-year, while iD Mobile subscribers increased 19% to 2.5 million. Credit adoption reached 25%, and B2B sales grew 21%.
In the Nordics, like-for-like revenue surged 12%, with growth across all categories and markets. Omnichannel sales were also strong, including a 42% rise in order & collect.
Currys now expects adjusted profit before tax for the year to be between £180 million and £190 million, ahead of the consensus forecast.
A £50 million share buyback is underway, with £30 million already completed, and year-end net cash is expected to exceed £100 million.
Group chief executive Alex Baldock said: “We gained market share in both UK&I and Nordics… and our fastest growth was where customers use both channels together. We go into 2026 confident in our strategy and energised by the opportunities ahead.”
Broker Peel Hunt said it was a strong Christmas trading, particularly in the Nordics, which had driven upgrades to forecasts.
The broker expects profits to land toward the top end of Currys’ £180-190 million guidance range, supported by improving strategic KPIs and continued buyback momentum.
"Recovery in the Nordics reflects a wider consumer recovery in key territories. Strong underlying FCF does not require PBT upgrades here, as we note the drop-off in capex, exceptional costs, and pension payments in FY27 underpins a £100m+ increase in FCF to £136m, which is continued fuel for the ongoing buyback."