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DFS reiterates full year profit guidance following rise in demand

Furniture retailer DFS has reiterated its full year profit guidance after seeing orders improve in its second quarter. In a trading statement for the 26 weeks… View Article

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DFS reiterates full year profit guidance following rise in demand

Furniture retailer DFS has reiterated its full year profit guidance after seeing orders improve in its second quarter.

In a trading statement for the 26 weeks to 25 December, the company said low demand at the start of its financial year was followed by better trading.

Across the half year, group order intake was 10.6% higher than pre-pandemic levels three years ago, but 4.8% down on a year-on-year basis.

However, orders improved to growth of 18.8% year-on-year in the last three months of the period as the company continued to make market share gains.

DFS said it has made a good start to its winter sale trading period and that current order intake is strong. As a result, the company has reiterated its mid case full year profit guidance of £36 million.

Tim Stacey, DFS group chief executive, said: “The group has traded well through the second quarter and the start of the important winter sale trading period. Whilst the macroeconomic environment remains challenging and hard to predict, we reiterate our full year profit guidance supported by the positive current trading momentum.

“As always, we continue to invest for the long-term success of the business, to further strengthen our market leading position and with our established platforms, scale and expertise we believe we are well set up for growth over the medium term.”

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