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Electronics Retailer Curries has recorded significant growth in sales, which has been attributed to positive performance driven by strong demand aye technology and new gaming Launched alongside revamp of its Nordics operations.
The company announced revenues of £4.2 billion for the six months ending in November, A similar increase of 4 percent was recorded compared to the previous year.
Adjusted pre-tax profit more than doubled to £22 million. This financial recovery comes despite Curries This has been described as a “muted” consumer environment and “unhelpful” cost pressures.
in Britain and irelandWhere? Currys operates approximately 300 storesThe computing sector was the strongest performer, driven by AI innovations and new video games.
The retailer also highlighted strong demand for gaming accessories, emerging health and beauty technologies and a 12 percent increase in Windows laptop sales.
mobile Products with its ID also made a positive contribution in the half year mobile The network brand is expanding its share in the broader market.
But there was a decline in sales of consumer electronics in this TVS and speakers, which the retailer attributed to a surge in demand during the men’s Euro 2024 football tournament last year.
Chief executive Alex Baldock said, “It is pleasing that strong top-line growth is translating into improved profitability”.
But he added: “In the UK and Ireland, the consumer environment is more relaxed, and cost barriers are inapplicable.”
Currys said profits in Britain were falling due to increases in the national minimum wage and employer national insurance contributions from last year’s autumn budget.
These cost increases were not being fully offset by the savings it was attempting to make in the business.
Still, Currys praised the improved performance of its Nordics arm after launching a turnaround at the struggling business.
Revenue increased 4 percent on a like-for-like basis for the region, which has more than 400 stores, both owned and franchised, and earnings increased.
shares The Currys jumped nearly a 10th in early trading Thursday.