DFS Furniture profits surge to £17.0m in H1 FY25

DFS Furniture Group has seen its underlying profit performance, uPBT(A) almost doubled to £17m in H1 FY25 (H1 FY24: £8.7m), despite a relatively flat growth in revenues of 0.1% to £504.5m.

For the 26 week period ended 29 December 2024, the group’s gross sales were also up 1.4% to £675.6m YoY, while its order intake grew by 10.1% due to strengthening trading performance.

Additionally, trading through the first 10 weeks of the second half has remained strong, with order intake increasing from the 10% achieved in H1, with its year to date order intake now 11% YoY.

As a result of the continued strong trading, good cost control and assuming no further supply chain disruption the group expects to outperform consensus expectations and deliver uPBT(A) of £25m-£29m.
The board said it also “remains confident” in achieving its £1.4bn full-year revenue target and 8% PBT medium-term goal, as outlined at its 2022 Capital Markets Day.

Tim Stacey, group chief executive officer, said: “Our improved profit performance in the first half is testament to the strength of our customer proposition, the dedication of our colleagues and our collective focus on operational excellence, evidenced through increased market shares and customer satisfaction scores.

“We are on track to deliver full year profit performance ahead of market expectations and our confidence in the Group’s capabilities and future potential has never been higher. Given our strong market position and relentless focus on executing our strategy, we are confident that we will achieve our £1.4bn full year revenue and 8% PBT targets in the medium term and deliver strong returns for our shareholders.”