The retailer says it had not planned for the full impact of recent changes to tax and other government policy.

Alex Baldock also warned that policies announced by the Chancellor in October will ‘depress investment and hiring’ plans.

Electricals retailer Currys said on Thursday that it swung back into the black in the first half, with a solid performance in the UK and Ireland helping to offset weakness in the Nordics.

With 715 stores, Currys credited 'strong' UK sales for balancing a slight dip in its Nordics division. UK like-for-like revenues rose by 5%, with total regional revenues reaching £2.34bn