DFS says revenue up 9.7% to £1.06bn
DFS reported that its full-year sales and profits increases as people in Britain upgraded their homes throughout the pandemic.
The seller of sofas added that orders have held steady throughout the current financial year.
Despite coming up against issues such as supply chain disruptions, DFS expects to meet its earnings expectations.
DFS’s underlying profits before tax rose 55.6% to £105.8m.
Revenue increased by 9.7% to £1.06bn in the year to June 27.
Commenting on the latest results from DFS Julie Palmer, partner at Begbies Traynor, says:
“DFS has sprung back from the pandemic to a comfortable position. As homeowners jumped on the DIY bandwagon it benefitted from the demand of many being stuck at home. The business developed its digital offering giving it the best of both worlds,cushioning the blow of lockdowns. Its integrated retail model puts it in a strong position over competitors as it looks to the future.”
“While the company has had a positive year it’s now facing the same supply chain problems as many businesses. Its investment into its own logistics capabilities and UK manufacturing capacity may shelter it slightly, but DFS may not want to get too comfortable yet.”
