The UK’s equivalent of JB Hi-Fi, Currys, has seen a 37% lift in full-year profits to £162 million (A$336 million), driven by strong UK sales and booming credit services.

Currys group revenue climbed 3% to £8.7 billion for the year ending 3 May, while recurring service revenue jumped 12% and credit sales surged 14% to £1.1 billion.

Its in-house mobile brand, iD Mobile, added 450,000 new customers, now servicing 2.2 million users.

CEO Alex Baldock said the business has “real momentum”, highlighting growing market share in key categories like gaming, TVs, and computing. Store upgrades, better layouts, and click-and-collect enhancements also played a key role, with Currys’ order and collect now accounting for 34% of online sales.

Baldock added that Currys has become “the home of AI-enabled tech”, pointing to early success in new product lines and B2B services. The company will also resume paying dividends following the strong performance.

Meanwhile, Currys CFO Bruce Marsh addressed fears around AI-related job losses, stressing the technology is being used to “augment”, not replace employees, according to the UK’s Retail Gazette.

However, hiring has been impacted, though Marsh blames policy constraints more than AI advances.

Last month, Currys cut 80 head office roles in a bid to reduce central costs by 10%.

Baldock also took aim at the UK’s “de minimis” import loophole, warning it was enabling a flood of “cheap, tatty and unsafe” goods from China via Amazon, Temu, and Shein. He called on the UK government to “show some urgency” in tightening tax and customs enforcement.