Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Currys Set to Report First Half Fiscal 2024 Results


Revenue Forecast

Currys, a leading retailer of technology products, is set to announce its financial results for the first half of fiscal 2024 on Thursday. According to a Visible Alpha consensus forecast based on six analysts’ estimates, the company is expected to report a drop in revenue for the six months ended in October. The anticipated revenue is 4.14 billion pounds ($5.20 billion), compared to GBP4.47 billion reported during the same period last year.

Regional Sales Forecast

The consensus forecast from Visible Alpha also predicts a decline in sales for Currys’ Nordic business, Elkjop, with an expected drop of 12%. Sales in the U.K. and Ireland regions are also projected to decline, with a forecasted decrease of 5.7%.

Operating Profit Forecast

Visible Alpha analysts anticipate an operating income drop of 34% for Currys, resulting in an expected operating profit of GBP19 million.

Key Points to Monitor

  1. Investment Budget Guidance: Analysts will be keenly observing any comments made regarding Currys’ current guidance on capital expenditure for fiscal 2024, which is estimated to be around GBP80 million. Additionally, any insights on restructuring costs of approximately GBP50 million would be of interest.

  2. Dividends: Following the decision to suspend the payout on fiscal 2023 results, Currys is not expected to declare interim dividends. This information was noted by AJ Bell investment director Russ Mould and head of financial analysis Danni Hewson.

  3. Greek Deal: Currys’ sale of its Greek operation is expected to be finalized in the first quarter of 2024. Any updates or remarks regarding this disposal would be welcomed, according to industry experts.

  4. Activist Investors: Both Redwheel and Frasers’s Chief Executive Mike Ashley, who are activist investors with significant stakes in Currys, will continue to be closely monitored for their comments and actions, as stated by AJ Bell.

Warren Buffett Reduces Stake in HP Inc.

Previous article

The Boundaries of Deglobalization: A Sign of Hope for the Shipping Industry

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News