Currys opts not to restore dividend despite return to profit

Currys’ (CURY) shares were knocked down by 5 per cent after it took the “prudent decision” not to reinstate its final dividend. But the omnichannel retailer displayed signs of progress as it returned to statutory profit and said it expected profit and free cash flow growth in the new financial year. 

The company last returned capital to shareholders through its interim dividend last year. Management said that as pension contributions and capex are increasing it had decided against a reinstatement at this stage, but would look to resume returns in the next 12 months.