Business
AGM Trading Statement
AGM Trading Statement.
About this update from Currys Plc
[{"type":"text","content":"\n\n7 September 2023\n\nTrading update for 17 weeks ended 26 August 2023\nSolid start to year's trading We Help Everyone Enjoy Amazing Technology\n \n· All guidance for the year remains unchanged\n\n· UK & Ireland like-for-like revenue (2)%\no Revenue trends better in July & August than May & June\no Robust sales in domestic appliances and mobile, offset by weakness in other categories, especially computing\no Maintained gross margin improvements and delivery of cost saving targets \no Continued positive momentum in Services with credit adoption and protection services growing above expectations\no iD Mobile performing strongly \n· Nordics like-for-like revenue (8)%\no Nordics revenue trends have improved slightly throughout period, although trading environment remains challenging\no Gross margin has improved due to actions taken including higher customer adoption of services\no Actions taken to deliver cost saving targets include: central headcount reduction, offshoring & contractor removal, IT procurement synergies, store lease & operating cost reductions, marketing expense rationalisation and goods-not-for-resale supplier consolidation.\n \n· Greece like-for-like revenue +3%\no Trading continues to be robust despite short term impact from wildfires on customer footfall during August\no The strategic review of the Kotsovolos business is progressing in line with plan, a fuller update will be given in due course\n \n\n\n\n\nLike-for-like Sales - YoY\n\n\n \n\n\n\n\n UK & Ireland \n\n\n(2)%\n\n\n\n\n International \n\n\n(6)%\n\n\n\n\n - Nordics \n\n\n(8)%\n\n\n\n\n - Greece \n\n\n3%\n\n\n\n\nGroup \n\n\n(4)%\n\n\n\n\n \nAlex Baldock, Group Chief Executive\n\"Our priorities this year are simple: to keep the UK&I's encouraging momentum going, and to get the Nordics back on track. We're making good progress on both, in what continues to be a challenging economic environment. We remain confident that we're building a stronger business that's resilient today and fit to prosper in the longer term.\"\n \n \n \n \n\n\n \nAGM details\nThe Currys plc Annual General Mee...