Shares in Currys (CURY) have gained 60% over the past year as the electrical retailer experiences meaningful recovery in its Nordic business and solid sales from its UK operation.

On 3 April the company raised its profit guidance for the second time in 2025 due to ‘robust’ trading in the period since 4 January.

Investors also welcomed news the FTSE 250 constituent expects to close the year in a ‘strong’ net cash position.

Investment bank Berenberg comments: ‘The primary driver of Currys’ profit growth and earnings upgrades had been self-help through sustainable gross margin and cost-savings initiatives, from which there is more to come.

‘What has now changed is that, for the first time in four years, both the group’s UK & Ireland and Nordics divisions are delivering positive like-for-like sales growth.

‘We think this has been driven by some uptick in consumer confidence, yet there is also an enduring, post-Covid-19 technology replacement cycle that is now kicking-in.’

In March 2024, Currys successfully brushed off interest from US private equity firm Elliot Advisors rejecting an initial £700 million offer (62p) and subsequent £757 million bid (67p) on valuation grounds saying these ‘significantly undervalued’ the business. 

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