Watch Business Live with IanKingSky: Currys boss 'wary' of economic optimism as overall profits fall
But across the company overall like-for-like sales fell 7% due to a fall in consumer spending, which Currys has attributed to persistent inflation and rising interest rates.
At the same time it said spending on technology had normalised after strong growth during the pandemic. "Our market has been tough everywhere, with depressed demand, high inflation and unforgiving competition," Mr Baldock said. Performance in the Nordics, where about 40% of Currys revenue is generated, is behind the drop in pre-tax profit, down from £186m last year to £119m this year. The profit is at the top end of guidance that had been issued after two profit warnings."We've had a very mixed year," said Mr Baldock.
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