UK electricals retailer Currys on Wednesday reported higher first-half profits but warned its market has been softer over recent weeks and it could face more headwinds from the Omicron Covid variant.
Adjusted pre-tax profits came in at £48m in the six months to October 30 against £40m a year earlier. Group revenue fell 2% to £4.78bn.
The company said it was still on track for annual adjusted pre-tax profit of around £160m, although it may face into further headwinds from Omicron and associated restrictions.
“During the last few months, well-publicised global supply chain challenges have affected the industry. We have coped with these challenges well, mitigating the impact for our customers by making the most of the strength of our supplier relationships to maintain market leading product availability,” Curry’s said.
“Nevertheless, there are costs associated with some of these mitigations, and there has been some impact on our product availability and on sales of some in-demand products.”
