Electrical retailer Currys on Thursday announced a £75m share buyback as group organic sales jumped 15% from pre-pandemic 2019 levels on the back of continued demand for products such as laptops and video games during lockdowns.
Currys, which formerly known as Dixons Carphone, said it had put measures in place to mitigate supply chain disruption and labour shortages.
It reaffirmed consensus forecasts for full-year pre-tax profit of £161m and said it expected to deliver a “robust” peak Christmas trading period.
“Our medium-term guidance for 4% EBIT margin and over £1bn cumulative free cash flow by 2023/24 remains unchanged. By that year we expect the group to be generating over £250m of annual sustainable free cash flow,” Curry’s said in a statement.
