UK consumer electronics and appliances retailer Currys is accelerating its push into the B2B market after delivering a strong performance for the half year ending November 2025.

The group reported a half-year profit of A$44.53 million, up 144% year on year, despite revenue rising a modest 4% to A$8.56 billion. Cash flow improved sharply, increasing 68% over the period.

Group chief executive Alex Baldock said the company was encouraged by the momentum across the business. “We’re pleased with the progress we’ve made, with healthy growth in sales, profits and cash flow,” he said.

Robyn Duffy, consumer markets senior analyst at RSM UK, said the results pointed to “a strong performance in what has been a mixed year for UK consumer spending”.

Looking ahead to 2026, Duffy highlighted several revenue tailwinds. An upgrade cycle driven by AI-enabled devices and the transition to Windows 11 is expected to lift demand for higher-value technology. TV sales are also tipped to recover, supported by consumers replacing ageing sets and upgrading to larger, premium screens ahead of the FIFA World Cup and Winter Olympics.

Currys’ Nordic operations were a standout, with adjusted earnings before tax rising 94% to £35 million on the back of 7% sales growth. Baldock said the region’s performance reflected Currys’ market leadership and strong execution. “In the Nordics, being the clear leader in an improving market has driven another notable step forward in profits, with strong top-line growth translating into improved profitability,” he said.

In contrast, trading conditions in the UK and Ireland remain more challenging. Baldock noted that rising employee costs, mandated by the UK government, had not been fully offset by cost savings or operating leverage.

Despite these pressures, Baldock said Currys continued to gain market share. “We’re the growing market leader, and our margin and cost discipline is helping to mitigate headwinds and protect profits,” he said. “Across all markets, our omnichannel model is performing strongly, and our expanding services and solutions business is delivering value for customers and shareholders alike.”

The company also reported a £62 million year-on-year decline in net cash, reflecting £46 million returned to shareholders and £82 million paid into pension contributions.

Duffy said the outlook remains positive. “The combination of technology upgrade cycles and a packed global sporting calendar in 2026 provides credible support for revenue growth,” she said.