Retailer Currys has revealed that pre-tax profits almost quadrupled to £126m in the year to April, compared to the year before.

But it said "outlook on consumer spending is uncertain", with growing costs being passed onto customers and warned of the impact of inflation on sales.

In a statement provided with its financial reports, Currys said: "On most products we pay in local currency when the goods arrive in our markets, the price increases we are seeing at the moment will be felt by all of our competitors as well.

"These costs are passed on to consumers, but we seek to proactively mitigate through providing similar, different specification products at alternative price points."

It added that inflation is "very likely to create a headwind to consumer spending and impact sales, particularly in some of our more discretionary categories".

Revenues fell slightly in the last year to £10.1bn, but the business told its investors it was helped by £69m in cost-cutting activities.

Chief executive Alex Baldock said: "Our scale as an international market leader, our grip on costs and our strong relationships with suppliers will allow us to manage inflationary headwinds and keep amazing technology within reach of everyone, even now.

"That's what Currys exists to do, and it's never mattered more."