ADVERTISEMENT
Department Stores

DFS FY21 revenues climb 10.4%

In a trading announcement made ahead of the group’s full-year results, the furniture retailer claimed that it expects to see £105m in profit before tax for the period

DFS Furniture has revealed its revenues increased by 10.4% during the first 49 weeks of FY21 when compared to FY19 levels.

In a trading announcement made ahead of the group’s full-year results on 27 June 2021, the furniture retailer claimed that it expects profit before tax for the period to reach £105m.

The growth was driven by a 92.1% increase in Q4 order intake for the 10 weeks to 6 June 2021 in comparison to pre-pandemic orders.

Moreover, a 222.5% spike in online orders throughout Q3 offset the group’s showroom closures in lockdowns two and three, as well as supply chain disruptions through the Suez Canal situation.

Tim Stacey, group chief executive at DFS, said: “This performance once again reflects both the underlying resilience of the group.

“Despite short-term supply chain challenges and a macro environment that’s hard to read, we believe the business is well set for growth, to be delivered in both a responsible and sustainable manner.”

Looking ahead, the group expects to see underlying profit before tax of between £66m and £96m in FY22.

Stacey added that DFS will “continue to invest in key strategic initiatives” that include the firm’s digital channels, showrooms, final mile logistics facilities, and “new investment in UK manufacturing and capacity”.

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.