Currys sees more profit growth as AI gadgets arrive

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Currys sees more profit growth as AI gadgets arrive
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Consumer electronics company reported an adjusted profit before tax of €139m in the year to April

Electricals retailer Currys, a takeover target earlier this year, forecast AI-powered gadgets would help to deliver another year of profit growth after a 10 per cent rise in 2023-24 that reflected a steady improvement in trading.

Currys made an adjusted profit before tax of £118 million in the year to April 27th – in line with guidance upgraded last month and up from £107 million made in 2022-23. Average UK wages are, however, now rising faster than inflation and consumer sentiment in June recovered to its highest since November, 2021 according to Britain’s longest-running consumer confidence survey published last week.

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