The group also reported a 38% fall in full year profit, hurt by the weak performance of its Nordics business.
Accordingly, we're being prudent in our planning, and in further strengthening our balance sheet," CEO Alex Baldock said.
Baldock said Currys had taken actions to maximise operating cashflow through margin improvement, delivering cost savings and reducing capital expenditure.
Nevertheless, the economic outlook remains uncertain in our main markets," Currys said.
The group reported a statutory loss before tax of 450 million pounds for the year, driven by a previously announced non-cash goodwill impairment of 511 million.
Persons:
we're, Alex Baldock, Baldock, Currys, Mike Ashley's Frasers, Frasers, James Davey, Sarah Young, Jason Neely
Organizations:
Consumers, Revenue, Ireland, Thomson
Locations:
British, Europe, Currys