Dunelm expects its full-year profit before tax to lie at the upper end of its range, the company said in a fourth quarter trading update on Wednesday. Dunelm raised its annual profit forecast last month, expecting its profit before tax for the year to be above the £102 million from the year before. Back in April, the retailer said that it was expecting full-year profits to be “slightly ahead” of forecasts. The homewares retailer said on Wednesday that it now expects its full-year profit before tax to be towards the upper end of the company’s £124 million – £126 million range. Total like-for-like revenue for the fourth quarter was up 15.4%, reflecting Dunelm’s strong underlying growth both in stores and online. Like-for-like store revenue was up 12.1% over the period and like-for-like online revenue continued to see strong growth in the quarter, up 37%. Dunelm also added that its results were driven by a weaker comparator period last year and favourable weather this year. It seems that the rainy start to summer in the UK has spurred consumers to re-furnish their homes. “The strong growth in the final quarter, and the year as a whole, demonstrates that in a rapidly changing marketplace, the broad appeal of Dunelm’s purpose ‘to help everyone create a home they love‘ is resonating well,” Nick Wilkinson, Chief Executive Officer of Dunelm, said in a company statement. “We continue to invest in the business, particularly in strengthening our digital capabilities and reaching more customers through our brand marketing initiatives,” the Chief Executive continued. “Looking forward, as the UK’s leading homewares specialist, we see significant opportunity for continued growth both from our stores and online, whilst maintaining our improved operational discipline. In the short-term, we remain cautious about the uncertain political climate and the impact it may have on consumer spending, but expect to make further progress in the year ahead and are confident about the Group’s longer-term prospects.” Shares in Dunelm Group plc (LON:DNLM) were last trading at -0.35% as of 11:49 BST.

Barratt Developments (LON:BDEV) expects its annual pre-tax profit to be ahead of market expectations, the homebuilder said in a trading update on Wednesday. The trading update comes ahead of the publication of its annual results later this year in September. Barratt Developments said that profit before tax is expected to amount to roughly £910 million, ahead of market expectations and up on last year’s £835.5 million figure. This profit figure is driven by continued strong progress from margin initiatives, a strong close to the year and further contribution from joint ventures. Additionally, the homebuilder added that 17,856 total homes have been completed over the period, including joint ventures, just above the 17,579 homes completed in 2018. Barratt Developments, which was awarded the HBF’s maximum five-star customer satisfaction rating for the tenth year in a row, added that it hade made good progress in its strategy to exit central London. The homebuilder wants to focus instead on the strong growth opportunities that reside in the outer London area. “It has been another very good year for the Group both operationally and financially,” Chief Executive David Thomas, said in a company statement. “We have delivered our highest number of completions for eleven years, made further improvements to our margin and as the only major housebuilder to be awarded a 5 Star rating for customer satisfaction for ten years in a row, we continue to lead the industry in quality and customer service,” the Chief Executive added. “We begin the new financial year with a strong forward order book and cash position, continued focus on the delivery of operational improvements across our business, and an ongoing commitment to deliver the highest quality homes across the country.” Recent data from Nationwide reveals that UK house price growth in June remained weak as uncertainty surrounding the nation’s departure from the European Union prevails. Shares in Barratt Developments plc (LON:BDEV) were up 0.45% as of 11:13 BST.

J D Wetherspoon posted a rise in sales in a pre-closing trading statement on Wednesday, in addition to a commentary concerning Brexit by the company’s Chairman. For the 10 weeks to 7 July, like-for-like sales rose by 6.9%, with total sales increasing by 6.6%, the business said in a pre-closing trading statement for the financial year ending 28 July. Year-to-date like-for-like sales have increased by 6.7% and total sales increased by 7.4%, the national pub and hotel chain added. J D Wetherspoon, which opened five new pubs and disposed of nine across the year, said that it remains in a “sound” financial position. It expects net debt at the end of this financial year to be roughly £745 million. The company’s Chairman, Tim Martin, provided a commentary in the trading statement concerning the nation’s departure from the European Union. “The main issue for shareholders, which dominates debate, relates to the nature of the UK’s post-Brexit relationship with the EU,” Tim Martin, Chairman of Wetherspoon, said in a company statement. “The dichotomy between a ‘no-deal’ Brexit and a ‘deal’, as it is often portrayed in the media, politics and business, is highly misleading. The term no-deal really means ‘multi-deal’ – a multitude of deals agreed between individuals, businesses, governments and other organisations.’’ “In contrast the term ‘deal’ refers to a ‘mono-deal’ – a single overarching agreement, which aims to govern the entire relationship between the UK and the EU.” “In reality, a multi-deal Brexit (ie no-deal) is already proceeding at pace. Jean Marc Puissesseau, the boss of the port of Calais, has said ‘there will not be any delay’ in Calais. Ryanair has said that fears about planes not flying post-Brexit ‘is no longer a risk’. British Airways agrees.” “Wetherspoon, for example, has made arrangements to replace French champagne and brandy, and German beer, with alternatives from the UK, Australia and America. In addition, most spirits and beer exports to the EU from non-EU countries are not subject to tariffs, in any event.” “Initial fears about huge post-referendum job losses in the City of London have proved to be wide of the mark, as legal and practical arrangements have been made.” “These sorts of deals and arrangements are the tip of a giant iceberg of similar transactions, across the trading spectrum, negotiated and facilitated by individuals, businesses and civil servants – the negative undertone of no-deal is an illusion.” “The real issue for the UK relates to the desirability of an overarching mono-deal, governing all aspects of the UK’s future relationship with the EU, as envisaged in Theresa May’s withdrawal agreement.” “The multi-deal approach, which immediately allows the UK to trade freely with the rest of the world, is a better alternative. As the House of Lords said in March 2017, there is then no legal liability to make any payments to the EU.” “It enables the UK to regain control of fishing and to eliminate tariffs on thousands of non-EU imports, such as bananas, rice, wine and children’s clothes – many of which are not produced in the UK.” The Chairman concluded by returning to Wetherspoon and underlining that the company’s expectation for its annual results is unchanged for the current financial year. Shares in J D Wetherspoon (LON:JDW) were up 2.63% as of 10:40 BST Wednesday.