StockMarketWire.com - Electrical goods retailer Currys flagged softening demand in the run-up to Christmas and ongoing supply-chain issues, but maintained its annual guidance following 'strong' first-half performance.

The company said was on track to meet expectations outlined at its capital markets day last month for full year adjusted pre-tax profit of around £160 million.

'The immediate outlook has become more uncertain, with the omicron Covid-19 variant and associated government restrictions potentially further dampening market demand,' it added.

The unchanged guidance was supported by strong performance in the first half of the year.

For the half year ended 30 October 2021, pre-tax profit rose to £48 million from £45 million year-on-year, while revenue fell 2% £4.79 billion.

'Sales were flat year-on-year on a currency neutral basis, as +4% growth in our international business was offset by the decline in UK&I sales and the Carphone Warehouse Ireland closures,' the company said.

'After a strong sales performance in the first half of the year, market demand has softened in the run-up to Christmas,' it added.


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