Currys maintains profit guidance despite drop in sales

Currys has posted a first half loss of £16m for the six months ending October 31. Group like-for-like sales were £4.1bn, down 4 per cent, with UK and Ireland like-for-like sales falling by 2 per cent, making adjusted EBIT for the region drop to 40 per cent YOY.

Commenting on the results, Alex Baldock, Group Chief Executive said: “In the UK&I, profits are in line with expectations, as we focus on more profitable sales and growing the services that drive margins and customer lifetime value. Credit, Care & Repair and iD Mobile are all performing strongly, while colleague engagement and customer satisfaction continue to rise.”