Business
Building an ever-stronger Currys
Currys PLC reported a strong financial year with group revenue up 6% to £9,254 million, driven by like-for-like growth of 4%, and adjusted profit before tax increased 18% year-on-year to £191 million. Group free cash flow rose 5% to £157 million, and the company ended the year with £176 million in net cash. The proposed final dividend is 2.25p, bringing the full-year dividend to 3.0p, a 100% increase year-on-year, and a new £50 million share buyback program is commencing. The company also announced the appointment of Fredrik Tønnesen as Group Chief Executive Officer, succeeding Alex Baldock. Disclaimer*
About this update from Currys Plc
[{"type":"text","content":"\n\n We Help Everyone Enjoy Amazing Technology\nAudited Financial Results for the Year Ended 2 May 2026\nBuilding an ever-stronger Currys\nSummary\n· Group adjusted profit before tax £191m, +18% YoY\n· Group free cash flow £157m, +5% YoY\n· Group year-end net cash £176m, after £74m of shareholder returns and £82m of pension contributions\n· Group colleague engagement score +2pts to 84, amongst top global companies1\n· Customer satisfaction rising with UK&I NPS of 56, +1pt YoY, and Nordics NPS of 65, +2pts YoY\n· Final dividend of 2.25p proposed, bringing full year dividend to 3.0p, +100% YoY, at 4.5x cover\n· New £50m share buyback to commence today\n· Fredrik Tønnesen, Nordics CEO, appointed Group Chief Executive Officer from 3 August, succeeding Alex Baldock\nFinancial performance\n· Group revenue £9,254m, +6% YoY, driven by like-for-like growth of +4%\n· UK&I like-for-like revenue +3% and adjusted EBIT £158m, +3% YoY\no Growth driven by market share gains2 in both channels and strategic initiatives, including recurring Services revenue3 +7%, credit sales +10% to £1.2bn and iD Mobile subscribers +18% to 2.6m\no Sales growth in both channels and gross margin expansion more than offset cost increases\no Segmental free cash flow £105m, +11% YoY, with disciplined capital expenditure and working capital management\n· Nordics like-for-like revenue +6% and adjusted EBIT £97m, +26% currency neutral\no Nordics delivering strong profit growth and margin expansion, driven by operating leverage and tight cost control\no Segmental free cash flow +6% YoY to £73m, +7% currency neutral, after planned increases in investment spend\n· Adjusted EPS 13.4p, +19% YoY\n· Statutory profit before tax of £153m, +£29m YoY\nOutlook\n· Group trading in early part of the new financial year has been very solid\n· Although there continues to be macro uncertainty, the Group is comfortable with current market consensus4\n· Targeting continued growth in higher margin, recurring Services revenue, including reaching at least 2.8m iD Mobile subscribers before year end\n· Total cash shareholder returns of c.£85m planned in 2026/27 with the Board targeting a...