Currys (LSE:CURY) saw profit-taking slice around 3% off the share price on Thursday, with shares falling to 158.4p, after full-year results showing adjusted profit before tax rose 18% to £191m and the dividend was doubled to 3.0p.
The London-listed retailer remains around 24% higher in the year to date.
Curry's UK and Ireland division grew like-for-like revenue 3%, generating adjusted EBIT of £158m, up 3%, while the Nordics delivered a sharper 6% like-for-like gain and adjusted EBIT of £97m, up 26% on a currency-neutral basis.
Group free cash flow rose 5% to £157m, leaving year-end net cash at £176m against a pension deficit of £6m.
The board proposed a final dividend of 2.25p per share, taking the full-year payout to 3.0p, a doubling year on year, covered 4.5 times by earnings.
Adjusted earnings per share came in at 13.4p, up 19%.
Fredrik Tønnesen, currently Nordics chief executive, will succeed Alex Baldock as group CEO from 3 August.
Baldock said the group had meaningfully expanded its addressable market through B2B, which has "almost trebled the market accessible to us," adding that the opportunity from higher-margin services and solutions "remains larger still."
For the year ahead, Currys is targeting at least 2.8m iD Mobile subscribers and is comfortable with current market consensus, though it noted ongoing macro uncertainty.
A compelling case for continued outperformance
Panmure Liberum reckon the results support a compelling case for continued share price outperformance, with the stockbroker repeating a Buy rating with a 200p price target.
Analyst Wayne Brown, meanwhile, described the numbers for 2026 as "very strong," noting that Currys ended the year with £176m of net cash despite returning £74m to shareholders and making £82m of pension payments, obligations the analyst expects to fall in FY27.
Brown highlighted that recurring revenue now accounts for 30% of total group sales, with iD Mobile subscriber growth seen as "phenomenal," and he pointed to new category expansion, AI-driven technology upgrade cycles, and a consumer replacement cycle as clear structural tailwind.
The full-year dividend, at three times last year's level, underscores the group's financial confidence, the analyst noted.
