Currys - edging forward before Trading Update on the 26th, shares 130.70p, brokers TP 200p

Mark Watson-Mitchell
1 day ago
2 min read

Mark Watson-Mitchell - 08.01.2026

Watch the shares of the £1.37bn capitalised electrical retail group Currys (LON:CURY) over the next few days.

They closed at 130.70p after some 2.37m shares traded.

In two weeks' time, we should see the group report its Trading Update for the Christmas/New Year period.

Good First Half

It was on Thursday, 18th December, that the group declared that its First Half business

had shown a significant improvement in its financial performance for the half-year ended 1 November 2025.

The group saw its adjusted profit before tax reach £22m, a 144% year-on-year increase, and its group free cash flow rise by 68% to £84m.

The UK and Ireland segment showed strong momentum with a 6% revenue increase, driven by gains in recurring service revenue, credit adoption, B2B sales, and new categories, while the Nordics segment also saw an accelerating recovery with a 7% currency-neutral revenue increase.

The company is undertaking a £50m buyback programme, having completed £30m to date, and declared an interim dividend of 0.75p per share, bringing total shareholder returns for the year to £75m.

It declared that its Full-year guidance for profit and free cash flow growth has been maintained.

Management Comment

CEO Alex Baldock stated that:

"We're pleased with the momentum we've built, with healthy growth in sales, profits and cash flow.

In the Nordics, being the clear leader in an improving market, combined with strong execution, has driven another notable step forward in profits.

It's pleasing that strong top-line growth is translating into improved profitability.

In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful.

Still, we're the growing market leader, gaining share, and our margin and cost discipline is going a long way to mitigate headwinds and protect profits.

In all markets, our big growth initiatives are paying off, our omnichannel model continues to win, and our growing services and solutions are great for customers and valuable to us.

The business now has firm foundations and is focused on sustainable growth and cash flow generation.

We're committed to delivering for colleagues, customers and shareholders alike, and are pleased to be returning £75m to shareholders this year through dividends and buybacks.

We entered Peak well prepared, with strong stock availability and market-leading deals that reflect our unmatched importance to our partners.

Trading is in line with expectations."

Broker's Views

Analysts Wayne Brown, Ben Hunt and Anubhav Malhotra, at Panmure Liberum, increased their Buy rating to a 200p (180p) Target Price.

For the current year to end-April 2026, they look for sales to increase to £8,967m (£8,706m) while lifting pre-tax profits to £180.1m (£162.0m), generating earnings of 13.1p (11.3p) per share and paying a dividend of 2.5p (1.5p).

My View

The group should be issuing its Trading Update on Wednesday, 21st January, and I look forward to seeing a positive upward reaction in its shares.

They touched 147.20p in late October last year, and I now see them hitting that level again on further good corporate news.