Business
Performance continues to strengthen
Currys PLC reported a significant improvement in its financial performance for the half year ended 1 November 2025, with group adjusted profit before tax reaching £22 million, a 144% year-on-year increase, and group free cash flow rising by 68% to £84 million. The UK and Ireland segment showed strong momentum with a 6% revenue increase, driven by gains in recurring service revenue, credit adoption, B2B sales, and new categories, while the Nordics segment also saw accelerating recovery with a 7% currency-neutral revenue increase. The company is undertaking a £50 million buyback programme, having completed £30 million to date, and declared an interim dividend of 0.75p per share, bringing total shareholder returns for the year to £75 million. Full-year guidance for profit and free cash flow growth has been maintained. Disclaimer*
About this update from Currys Plc
[{"type":"text","content":"\n\n \nWe Help Everyone Enjoy Amazing Technology\nUnaudited Results for the Half Year Ended 1 November 2025\nPerformance continues to strengthen\nSummary\n\n\n\n\n•\n\n\nGroup adjusted profit before tax £22m, +144% YoY\n\n\n\n\n•\n\n\nGroup free cash flow £84m, +68% YoY\n\n\n\n\n•\n\n\nUK&I showing strong momentum - revenue +6%\no supported by share gains, +11% growth in recurring Service revenue1, credit adoption +160bps to 23.3%, B2B sales +16% and new categories +35%\n\n\n\n\n•\n\n\niD Mobile subscribers +21% to 2.4m, tracking ahead of the 2.5m year-end target\n\n\n\n\n•\n\n\nNordics recovery accelerating - revenue +7% (currency neutral)\no driven by growth across most product categories, including Epoq kitchens +30%\n\n\n\n\n•\n\n\n£50m buyback programme underway - £30m completed to date\n\n\n\n\n•\n\n\nInterim dividend of 0.75p declared - bringing total cash returned to shareholders to £75m this year\n\n\n\n\nFinancial performance \n\n\n\n\n•\n\n\nGroup revenue £4,230m, +8% YoY (currency neutral +6%) - driven by LFL revenue +4%\n\n\n\n\n•\n\n\nGroup adjusted EBIT £54m, +£13m YoY; reported EBIT £43m, +£14m YoY\n\n\n\n\n•\n\n\nUK&I LFL revenue +4%, adjusted EBIT £19m, £(4)m YoY\no government driven increases in colleague costs were not fully offset by cost savings and operating leverage\n\n\n\n\n•\n\n\nNordics LFL revenue +4%, adjusted EBIT £35m, +£17m YoY\no driven by higher sales, stable gross margins and tightly controlled operating costs\n\n\n\n\n•\n\n\nMovement in net cash £(51)m - down £(62)m YoY after £82m pension contribution and £46m shareholder returns\n\n\n\n\n•\n\n\nPeriod end net cash of £133m, +£26m YoY and pension deficit of £(16)m\n\n\n\n\nCurrent year outlook\n\n\n\n\n•\n\n\nGroup trading since the period end has been consistent with the Board's expectations\n\n\n\n\n•\n\n\nFull year guidance maintained - the Group continues to expect growth in profits and free cash flow for the year\n\n\n\n\nAlex Baldock, Group Chief Executive\n\"We're pleased with the momentum we've built, with healthy growth in sales, profits and cash flow.\nIn the Nordics, being the clear leader in an improving market, combined with strong execution, has driven another notable step forward in profits. It's pleasing that strong top-line growth is translating into improved profitability. In the UK&I, the consume...