- Currys reports revenue of £10.1 billion.
- Profit before tax came in at £126 million.
- Announces a final dividend of 2.15p, taking the final dividend to 3.15p.
Currys reported stronger than expected full-year earnings on Thursday, causing its shares to rise 6.61%.
The electric retailer reported full-year revenue of £10.1 billion which was in line with the previous year’s revenue. This came after a period of significant change, uncertainty, and disruption, according to Currys. Couldn’t agree more…
Meanwhile, profit before tax came in at a reported £126 million, up from £33 million in its prior year.
“These strong results show the vital role that technology plays in millions of lives, and that more and more customers are turning to Currys to help them enjoy that technology to the full,” said Alex Baldock, Group Chief Executive.
The company announced a final dividend of 2.15p, taking the full-year dividend 5% higher to 3.15p.
Currys also announced its current year guidance, as they expect adjusted profit before tax to be in the range of £130 million and £150 million. This comes as inflation still remains challenging for the retail market.
Looking at the current graphs, it is clear Currys has been underperforming. Its stock fell almost 39% in 2022 and it is yet to show any signs of recovery. Meanwhile, the Google Trends chart shows that interest over the last year has declined and this may be a strong indication of why Currys is performing so poorly.