DFS profits on track after ‘strong trading performance’

dfs

DFS has said it expects to deliver underlying profits in line with expectations, assisted by strong sales growth across its brands.

In a trading update, the furniture retailer said it expects to deliver underlying profit before tax “slightly above £50m” for the 52 weeks to June 30, up from £38.3m for the same period the year before.

The retailer reported a 7% rise in gross sales when adjusted to include the acquisition of Sofology.

DFS said cash generation for the period had been “solid”, which led to a “lower average closing monthly net debt” over the last six months.

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