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Dunelm full-year profits rise by 7.3%

Homewares retailer Dunelm grew its pre-tax profit by 7.3% to £116 million in the full year to 28 June.

GENERAL MERCHANDISE

Dunelm full-year profits rise by 7.3%

Homewares retailer Dunelm grew its pre-tax profit by 7.3% to £116 million in the full year to 28 June.

Revenue increased by 7.8% to £730.2 million while like-for-like sales edged up 2.1%.

In addition, the company saw over 60% growth in its multi-channel revenues, which now represent over 6% of total business.

Dunelm opened 12 new superstores in the year to take its total number of stores to 136 branches. It also increased its investment in brand awareness with its first national TV advertising campaign.

As well as reporting its full year results, Dunelm announced that Nick Wharton has stepped down as chief executive after four years in the role and has been succeeded Will Adderley, the son of Dunelm founders Bill and Jean Adderley. Adderley was previously chief executive of the company but moved to the role of executive deputy chairman in 2011.

Commenting on the full year results, Adderley said: “Dunelm has delivered solid trading results in the last financial year. We have again strengthened our specialist proposition, improved customer service in store and increased the profile of our brand.

“Each of these, together with our traditional product strength, has enabled us to increase sales on a like-for-like basis and to continue to gain market share. We have also made good strategic progress, growing our business through new stores and multi-channel, and strengthening our infrastructure.”  

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