Currys PLC

Currys PLC (LON: CURY) is an FTSE 250 index listed omnichannel retailer of technology products and services.

Trading Update (for 10 weeks ended 7 January 2023, as of 18 January 2023)

• Group like-for-like sales fell 7% YoY on a YTD basis. However, cost savings and gross margin increases delivered better than forecast profits under the UK & Ireland division.
• However, for the international markets, profit was below forecast due to the slowdown in Nordics market.
• In terms of guidance, FY23 adjusted PBT is expected to be in the range of £100-125 million (provided there is no unexpected macro deterioration). It is also expected to close FY23 with net debt of less than £100 million and capital expenditure of around £120 million.
• Medium term guidance remained unchanged: CURY is targeting at least a 3.0% adjusted EBIT margin by FY25.

Share Price Chart

 (Data Source: REFINITIV, Analysis done by Kalkine Group)

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Currys PLC was trading at the closing price of GBX 66.75 (as of 18 January 2023.).

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 18 January 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 4: Dividend Yield may vary as per the stock price movement.

Disclaimer

References to ‘Kalkine’, ‘we’, ‘our’ and ‘us’ refer to Kalkine Limited.

This website is a service of Kalkine Limited. Kalkine Limited is a private limited company, incorporated in England and Wales with registration number 07903332. Kalkine Limited is authorised and regulated by the Financial Conduct Authority under reference number 579414.

The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. No advice or information, whether oral or written, obtained by you from Kalkine or through or from the service shall create any warranty not expressly stated. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation.

Kalkine does not offer financial advice based upon your personal financial situation or goals, and we shall NOT be held liable for any investment or trading losses you may incur by using the opinions expressed in our publications, market updates, news alerts and corporate profiles. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. Kalkine’s non-personalised advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested.

Kalkine Media Limited, an affiliate of Kalkine Limited, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.