Electrical Retailer Currys Sees Growth Amid Rising Sales and Subscribers
- Currys raises profit guidance after strong peak trading period
- 2% increase in UK underlying sales for laptops and mobile phones
- Omnichannel revenues grow with online-in-store sales up 24%
- iD Mobile subscribers increase by 30% to 2.1 million
- CEO Alex Baldock confident in beating market expectations
Currys, an electrical retailer, has reported a strong peak trading period with a 2% rise in UK underlying sales of laptops and mobile phones. This growth led to the company raising its profit outlook for the year, expecting adjusted pre-tax profits to be between £145m and £155m, up 23-31% year-on-year. Omnichannel revenues also grew significantly, with online-in-store sales jumping 24%. iD Mobile subscribers increased by 30% to reach 2.1 million. CEO Alex Baldock expressed confidence in beating market expectations and plans to pay a dividend at the year-end. The company is prepared for an upcoming £32m tax bill.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Currys’ strong peak trading period, growth in sales, and increase in profits. It also mentions the reasons behind the growth such as increased demand for laptops and mobile phones. The CEO’s statement is included, along with plans to mitigate upcoming costs. However, there is a brief mention of JD Sports’ poor performance which may be considered tangential.
Noise Level: 3
Noise Justification: The article provides relevant information about Currys’ strong performance during the Christmas trading period and highlights the growth in specific areas such as laptops, mobile phones, and online sales. However, it also includes a brief mention of JD Sports’ poor performance which may not be directly related to the main topic.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Currys’ improved financial performance, with an expected increase in pre-tax profits and growth in sales of laptops and mobile phones. It also mentions the company’s plans to mitigate increased costs such as National Insurance contributions and business rates. However, it does not directly impact specific financial markets or companies other than Currys.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text and it’s not the main topic.
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