Overview
- The group, which issued a 17-week trading update on Thursday, reported 7% group like-for-like sales growth for the period to August 29.
- UK and Ireland like-for-like sales rose 6% while the Nordics jumped 9%, with market share gains across TVs, cooling and white goods.
- Currys said weather and the World Cup added about two percentage points to sales, lifting demand for large TVs, fans and outdoor appliances.
- Higher-margin recurring revenue is building with Flexpay adoption at 23.6% and iD Mobile subscribers up 16% to more than 2.7 million.
- Management confirmed a £50 million buyback with £23 million completed and said year-end net cash should be comfortably above the £100 million target while brokers kept Buy ratings and stressed that peak trading will determine any big profit upgrades.