NEWS
4 Currys boast ‘strong performance’ in latest financial results
Electricals retailer Currys has reported strong before tax rising to £22m, up 144 per cent year- £4,230m, representing an eight per cent increase (six per cent on a currency-neutral basis). Growth was driven by like-for-like (LFL) revenue, which rose by four per cent.
The UK and Ireland delivered particularly strong momentum, with revenue up six per cent. Supported by market share gains, the business also recorded an 11 per cent increase in recurring services revenue, while credit adoption rose by 160 basis points to 23.3 per cent. B2B sales grew by 16 per cent and new categories expanded by 35 per cent. Overall, group sales increased by four per cent on a like-for-like basis, with both the UK & Ireland and
the Nordics contributing equally to the performance. Total sales rose by six per cent on a currency-neutral basis, or eight per cent as reported, with the difference largely driven by the strengthening of Nordic currencies against Sterling.
Looking ahead, Currys said trading since the period end has been in line with the Board’s expectations. The
CIH Chairman Steve Scogings sets
CIH Chairman Steve Scogings sets out ambitious growth plans at annual Euronics Suppliers’ lunch
out ambitious growth plans at annual Euronics Suppliers’ lunch
for the independent electrical retail sector as he addressed partners, suppliers and industry leaders at the annual Euronics Suppliers’ Lunch, held once again at London’s Claridge’s. A key focus of the afternoon was the arrival of CIH/Euronics’ new CEO, Harry Kyriacou, who Mr Scogings said had already brought “dynamic energy” to the organisation. Mr Kyriacou’s leadership has begun to embed the group’s newly launched Six Strategic Pillars, introduced at the recent overseas conference, driving “positive and measurable change” across the business. Mr Scogings highlighted stronger internal alignment, a renewed commercial focus and closer collaboration across the organisation.
A Growing Competitive Landscape competing not only with major retailers including Currys, AO, John Lewis, Argos and Amazon, but also with expanding players such as Costco and new entrants like Joy Buy. Despite this, he emphasised that independents continue to hold a unique advantage through “local knowledge, trusted relationships, personal service and community presence”. Mr Scogings reiterated the group’s ambition to make CIH the leading voice of the independent sector by: • Growing membership • Increasing turnover and commercial opportunity • Strengthening its supplier and member proposition
Supplier Awards 2025 The event also featured CIH’s annual supplier awards, recognising outstanding performance and partnership over the past year. This year’s winners were: • Brown Goods Supplier of the Year: TCL • White Goods Supplier of the Year: Beko • Supporter of the Independents: Samsung DA • Members’ Choice Supplier of the Year: Bosch
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