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Dunelm increases sales and profits in first half

Wednesday February 10th 2016

Homewares retailer Dunelm has seen its first half revenues climb by 10.3% to 448.1 million as it continues to implement its growth strategy.

On a total basis, like-for-like sales increased by 4.6% with like-for-like store sales up 3.4%. Home delivery sales rose by 24.4% after growth started to accelerate following a new web platform launch last year.

Pre-tax profit grew by 10.7% to £75.5 million.

John Browett, Dunelm chief executive, said: "It is a really exciting time to be at Dunelm - a business built on a strong foundation of exciting product and design, unrivalled knowledge of the homewares market, a low-cost store network, great people and investment in systems.

"Our focus remains on growing the business for the longer term. After making good progress so far, we are continuing to work towards our three part growth strategy and are now focused on eight core projects that will enable us to achieve this. This will allow us to improve our business substantially for our customers and, as we increase both our store network around London and our online presence, to develop Dunelm into a truly national homewares brand."

Dunelm said the “solid” progress in like-for-like store sales was underpinned by a strong performance from curtains and bedding, particularly the new Kids range.

The company is continuing to expand its store portfolio with an increasing focus on London.

Looking ahead, Browett added: "After a solid performance in the first half, we had a strong sale after Christmas and we expect further good progress in the remainder of the year."