LONDON (ShareCast) - (Sharecast News) - Currys raised full-year profit guidance on Wednesday after the electricals retailer reported a 2% rise in UK and Ireland underlying sales as consumers bought more AI laptops and mobile phones during the Christmas and Black Friday period.


The company on Wednesday said it expected adjusted profit before tax of £145m - £155m, compared with forecasts of £140m and up 31% year on year. Shares in the form were up 10%.

A strengthened balance sheet meant the company expects to resume dividend payments with a distribution of 1.3p a share alongside full-year results in July, Currys said.

Nordic like-for-like sales were up 1% in the 10 weeks to January 4.

The retailer last month warned price rises were "inevitable" as it expected to face £32m in extra costs due to policies from the Budget.

"We're pleased by our strong peak trading. We grew in both markets, continuing the trend of Currys' strengthening performance, and we believe this year's profits will be ahead of market expectations," said chief executive Alex Baldock.

He pointed out that AI laptops, where Currys has a 75% market share, and premium mobiles proved especially popular, offsetting weakness in television sales.

Reporting by Frank Prenesti for Sharecast.com

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