The development of more AI computing products has contributed to an upturn in like-for-like revenue for Currys.
The digital retail giant has seen like-for-like sales increase 5% in the first six months of 2024, offsetting a 2% decrease in in its Nordic market.
The company now boasts almost half the total laptop market share, thanks principally to new AI-enabled computers.
Alex Baldock, Group Chief Executive, said: "Trading is going well, strengthening our confidence in growing profit and free cash flow again this year.
"New AI-enabled computers are bringing excitement and innovation to customers, who are coming to our stores to learn more about the technology.
"Along with Mobile and B2B, AI product launches have contributed to an encouraging start to the year in the UK&I, as we gain market share in an improving consumer environment.
"The Nordic consumer remains subdued, although we're pleased to be outperforming the market while improving gross margins and controlling costs well.
"Across the Group, we're continuing to target growth in high margin, recurring revenue services and solutions. Currys is well set for our important Peak trading period and beyond."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 15-points at 8,254 shortly after opening this morning.
Brent crude oil futures were up 0.32%, trading at $72.93 a barrel.
Companies reporting today
05-Sep | |
|---|
Alfa Financial Software Holdings | Half Year Results |
Ashmore Group | Full Year Results |
Apax Global Alpha | Half Year Results |
Bakkavor | Half Year Results |
Currys* | Trading Statement |
Genus | Full Year Results |
International Public Partnerships | Half Year Results |
Safestore Holdings | Q3 Trading Statement |
Vistry* | Half Year Results |
WAG Payment Solutions | Half Year Results |