Currys FY pre-tax profits up 28pc despite UK headwinds, Great Portland Estates makes 'strong start' to leasing year

Currys reported higher profits for the year despite UK headwinds, while Great Portland Estates said it began the leasing year strongly. Currys posted full-year revenues up 6% to £9.2bn for the year ended 2 May, and adjusted pre-tax profits rose 18% to £191m. It also said underlying UK and Ireland sales were up 3% despite a “subdued” consumer backdrop, with Nordics sales up 6%. The FTSE 250-listed retailer described a “solid” start to the current year, aiming to meet market expectations. Great Portland Estates said it signed 21 new leases and renewals in the first quarter, securing £13.2m of annual rent, including 15 fully managed leases generating £9.9m at £245 per sq ft. It said market lettings were 3.7% ahead of March enterprise rental value and £3.5m of rent was under offer. The wider news also included acquisitions by Halma totaling £54m.