Currys Warns of Price Increases Following £32 Million Budget Cost Impact

The UK electronics retailer cites higher National Insurance and minimum wage costs as contributing factors, while reporting improved financial performance for the half-year.

Currys anticipates £32 million in added costs due to measures introduced in the autumn budget, including higher employer National Insurance rates and minimum wage increases.
The company has warned that price increases are inevitable, though it plans to mitigate costs through automation, offshoring, and other efficiency measures.
For the six months ending October 26, Currys reduced its pre-tax loss to £10 million, down from £44 million in the same period last year, with group revenues rising 1% to £3.92 billion.
Strong UK and Ireland sales, up 5% like-for-like, offset a 2% decline in Nordic region sales, which remain under pressure from weak consumer demand.
Currys maintains confidence in its financial outlook, expecting profit and cashflow growth this year, driven by demand for AI laptops and other high-performing product categories.