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UK's Currys Profit Weighed Down by Weak Nordics Unit, no Final Div

LONDON, July 6 (Reuters) - British electricals retailer Currys reported a 38% fall in full year profit, hurt by the weak performance of its Nordics business and said it would not pay a final dividend as the economic outlook in its main markets remained uncertain.

The group reported adjusted pretax profit of 119 million pounds ($151.2 million) in the year to April 29 - in line with its latest guidance but down from the 192 million pounds made in 2021-22. Revenue fell 6% to 9.5 billion pounds.

While core profit in the UK and Ireland division rose 45% to 170 million pounds, in the Nordics division it slumped 82% to 26 million pounds "impacted by market challenges".

"Trading at the start of the year has been consistent with the board's expectations. Nevertheless, the economic outlook remains uncertain in our main markets," Currys said.

($1 = 0.7868 pounds)

Reporting by James Davey; editing by Sarah Young

Source: Reuters

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