UK electricals retailer Currys said it expected annual profits to be lower as consumers started to tighten their belts amid the cost-of-living crisis.
The company on Thursday said it now expects adjusted profit before tax for the year ending to April 30, 2023 to be £130m – £150 million pounds, down from £186m a year before.
Group profit before tax for the year just completed surged to £126m from £33m, reflecting the reopening of stores after Covid pandemic lockdowns.
“Inflation is very likely to create a headwind to consumer spending and impact sales, particularly in some of our more discretionary categories,” said chief executive Alex Baldock.
