Currys earnings preview: strong performance drives third profit upgrade this year
The electronics retailer is set to report full-year results on 3 July after raising profit guidance to £162 million, marking a 37% increase and the third upgrade this year.
Currys delivers exceptional full-year performance
Currys is poised to release its full-year financial results for the 2024/25 fiscal year on Thursday, 3 July 2025, following a robust trading period that prompted the company to raise its profit guidance for the third time this year.
In its latest trading update on 21 May, Currys reported that adjusted pre-tax profit for the year ending 3 May 2025 is expected to be approximately £162 million, marking a 37% year-on-year (YoY) increase. This surpasses the company's previous forecast of £160 million issued in April and the initial guidance of £145-155 million provided earlier in the year.
This series of upgrades demonstrates the strength of Currys' operational execution and the resilience of consumer demand for electronics despite broader economic uncertainties affecting the retail sector.
The consistent upward revisions throughout the year reflect management's conservative approach to guidance and their ability to capitalise on market opportunities as they emerged during the fiscal year.
Like-for-like sales growth drives profit improvement
The retailer attributed this performance to a 4% rise in like-for-like sales during the 17-week period following the peak trading season, driven by strong results in the UK and Ireland and a recovery in its Nordics operations.
This like-for-like growth is particularly impressive given the challenging comparison period and demonstrates that Currys has been gaining market share in key electronics categories despite competitive pressures from online retailers and other electronics specialists.
The recovery in Nordic operations represents a significant turnaround for what had been a challenging market for the company, suggesting that strategic initiatives to improve competitiveness in these markets are beginning to pay dividends.
The sustained sales momentum beyond the traditional peak trading period indicates that Currys has successfully adapted to changing consumer shopping patterns and maintained relevance in both seasonal and non-seasonal electronics purchasing.
Strong balance sheet supports strategic flexibility
Currys also concluded the fiscal year with a net cash position exceeding £180 million, bolstered by lower interest costs and effective working capital management. This financial strength has enabled the company to resume dividend payments, signalling confidence in its ongoing growth trajectory.
The substantial cash position provides Currys with significant strategic flexibility to invest in growth initiatives, technology upgrades, and potential acquisitions while maintaining a strong defensive position against economic uncertainties.
The resumption of dividend payments marks an important milestone for shareholders and demonstrates management's confidence in the sustainability of the company's improved financial performance and cash generation capabilities.
Effective working capital management has been crucial to this cash generation, with improvements in inventory management and supplier payment terms contributing to the strong balance sheet position.
Market positioning in competitive electronics landscape
Currys' strong performance comes amid a challenging retail environment where many traditional retailers have struggled to compete with online alternatives and changing consumer behaviour patterns accelerated by the pandemic.
The company's success reflects its ability to adapt its business model to serve customers across multiple channels while leveraging its physical store network for services that online-only competitors cannot easily replicate.
Electronics retail has proven more resilient than some other discretionary categories, with continued innovation in consumer technology driving replacement cycles and new product adoption despite economic pressures on household spending.
Currys' position as a leading electronics specialist in its key markets provides advantages in terms of supplier relationships, product range, and technical expertise that help differentiate it from both generalist retailers and online-only competitors.
Investor sentiment and share price performance
Investors and analysts are keenly awaiting the forthcoming earnings report, which is expected to provide further insights into Currys' strategic initiatives and financial health. The company's shares have appreciated significantly over the past year, by around 29%, reflecting market optimism about its performance and prospects.
The share price appreciation reflects not only the strong financial results but also improved confidence in management's strategic direction and execution capabilities after a period of transformation and restructuring.
This positive market sentiment has been supported by the consistent delivery of results that have exceeded expectations, building credibility with investors who had previously been cautious about the electronics retail sector.
The strong performance has also attracted increased analyst coverage and institutional interest, providing additional support for the share price and improving market liquidity.
Technical analysis and analyst ratings
Following a near 30% rise in the Currys share price from January until May, it has been consolidating since the second half of May within a slightly downward sloping sideways trading channel since then.
Currys daily candlestick chart
The short-term uptrend will be deemed to be intact while the 23 June low at 117.1p underpins on a daily chart closing basis.
A rise above the May peak at 128.5p is needed, for the December 2019-to-June 2025 resistance line at 136.5p to be reached.
Currys monthly candlestick chart
Further up sits a significant resistance area at 139.2p-to-143.5p which consists of the October 2019 and June-to-November 2021 highs.
According to LSEG Data & Analytics, 3 analysts have a ‘strong buy’ recommendation for Currys, 3 a ‘buy’ and 1 a ‘hold’ with a long-term mean price target at 142.71p, around 17% above the current share price (as of 30/06/2025).
Currys LSEG Data & Analytics chart
Strategic initiatives and future outlook
The upcoming results announcement will provide important insights into Currys' strategic priorities for the coming year, including investments in digital capabilities, store network optimisation, and market expansion opportunities.
Management commentary on consumer trends, market conditions, and competitive dynamics will be particularly valuable for assessing the sustainability of current performance levels and the company's ability to continue gaining market share.
Updates on key initiatives such as omnichannel integration, customer service enhancements, and supplier partnerships will provide insights into how Currys plans to maintain its competitive advantages in an evolving market landscape.
The company's approach to balancing growth investments with shareholder returns will be closely watched, particularly given the strong cash position and resumed dividend payments.
Investment considerations for Currys shares
For investors considering Currys following its strong performance, the company presents an interesting case study in successful retail transformation and market positioning.
- Research Currys' competitive position, strategic initiatives, and market dynamics in electronics retail to understand the investment opportunity.
- Consider how consumer spending trends, technology cycles, and competitive pressures might affect the company's future performance.
- Open an account with IG by visiting our website and completing the application process.
- Search for 'Currys' or its ticker 'CURY' on our trading platform or app.
- Consider appropriate position sizing given the cyclical nature of retail stocks and their sensitivity to consumer spending patterns.
Share dealing provides direct exposure to Currys' transformation story and resumed dividend payments for long-term investors who believe in the company's strategic direction.
Spread betting and CFD trading offer flexible approaches for trading around earnings announcements and sector developments in the retail sector.
The combination of strong financial performance, strategic execution, and improved market positioning suggests that Currys has successfully navigated the challenges facing traditional retailers, though continued vigilance will be required to maintain momentum in an increasingly competitive and rapidly evolving market environment.
The upcoming results will provide crucial validation of the company's strategic transformation and offer insights into whether the current performance levels represent a new sustainable baseline or exceptional conditions that may prove difficult to replicate in future periods.
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