DFS revenues jump 29.1% in H1 results
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Furniture retailer DFS has reported a 29.1% increase in group revenue to £422.3m for the 22 weeks ending 30 December 2018.
Reported profit before tax more than doubled to £14.1m during the period from £6.2m last year, and underlying pro-forma EBITDA increased by 23.8% to £32.8m. The retailer also opened three showrooms during the period, and its online growth was supported by “continued investment in web platform and digital engagement tools”.
DFS added that it is “continuing preparations for the UK’s exit from the EU”, with consumer confidence and border delays being identified as the “primary risks”.
Tim Stacey, group CEO, said: “We are pleased with the performance for the first five months of the financial year across the Group, with all four of our brands achieving like-for-like revenue growth.
“The benefits of our investments in our online channels, delivery networks and the development of our brands help mitigate the impact of a market which we expect to remain particularly challenging in 2019 given the current political and economic uncertainty.”
He added: “Notwithstanding a softer start to 2019, and assuming no weakening of this environment, our profit expectations for the financial year remain unchanged.”
