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DFS posts increase in full year sales and profit

Furniture retailer DFS has seen its full year pre-tax profit rise to £10.7 million from £3.6 million in the previous year.

GENERAL MERCHANDISE

DFS posts increase in full year sales and profit

Gross sales grew by 7% to £ 913.1 million in the 52 weeks to the end of August, while group revenue climbed by 7.5% to £706.1 million.

Group adjusted EBITDA was up 8.4% to £89.2 million.

During the year, DFS opened five new DFS stores in UK and Republic of Ireland, expanded its Sofa Workshop and Dwell store base, and also undertook a successful trial of a small format store in London.

It also opened its first continental Europe store in The Netherlands in 2014 and launched a Rotterdam store in September 2015.

DFS chairman Richard Baker said: "The group's growth strategy is delivering positive results across multiple initiatives and there are still substantial further potential opportunities for DFS in both the UK and international markets under our current strategy. With the key macro-economic indicators for the upholstery sector all positive and our strategic initiatives on track, we can look to the future with confidence.”

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