Currys PLC (LSE:CURY)

£ 0.788 -0.006 (-0.76%) Market Cap: 893.19 Mil Enterprise Value: 2.16 Bil PE Ratio: 21.30 PB Ratio: 0.47 GF Score: 48/100

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Full Year 2023 Currys PLC Pre-Close Trading Statement Call Transcript

May 15, 2023 / 07:00AM GMT

Release Date Price: £0.5765 (+3.04%)

Transcript

Alex Baldock

Currys plc - Group Chief Executive & Executive Director

Good morning, everybody. I'm going to give a quick intro with Bruce, and then we can dive straight into your questions. So FY '23 was a better-than-expected performance in what was a tough environment with a poor Nordics performance being offset by solid Greece and a strong and strengthening U.K. performance. We've been quite attentive to mitigating downside risk. And as we'll talk about, we're pretty prudent on the outlook. Let me start with the Nordics, which was a bad year in a very tough market with demand down, inflation up, ambitious competition. And I think it's true to say, however, we would have responded, profits would have been sharply down last year. Still, we believe we could and should have responded better. We've got have spotted those market trends a little faster.

Our costs could have come out sooner, and we could have got the balance of our trading response with the benefit of hindsight a bit better. Now it's still tough in the Nordics, but we're responding better now with decisive action. I'm pleased with

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