Diversification delivers winning results for Curry’s
Robyn Duffy, Consumer Markets Senior Analyst at RSM UK, comments on Curry’s full-year results: “Curry’s has successfully pivoted from a traditional high street electrical supplier to a diverse technology and services business, and today’s results show that its transformation is continuing to deliver strong performance.
“By expanding its revenue streams to include credit, B2B, services, its mobile network, and new product categories, Curry’s has become less reliant on seasonal consumer spending and has achieved longer-term sustainable growth through diversification. Having said that, huge sporting events, such as the FIFA World Cup, may have helped to boost sales as consumers upgraded their home set-up ahead of ‘watch parties’ to cheer on their home nations.
“Execution is the main driver for Curry’s success and is helping the business outperform competitors. Market share gains, solid recurring revenue streams and operational improvements are all helping drive growth, despite a consumer backdrop that remains cautious.
“All eyes will now turn to Alex Baldock’s successor to build on this momentum and shape the future growth of the technology retail group.”