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DFS Furniture expects full-year profit within upper end of market expectations
StockMarketWire.com
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Furniture retailer DFS Furniture said it expected full-year profit within the upper end of market expectations despite a 15% hit to orders from enforced showroom closures amid lockdown restrictions.
The company said it expected annual profit before tax and brand amortisation to be within the upper end of market expectations for £101.7m on an underlying IFRS16 basis with a range of £81.2m to £118.0m. This was comparable to the £63.1m loss underlying pro forma result as reported for the 52 weeks to 28 June 2020.
The company said it expected port delays to persist, and added that the benefit of any second half order intake outperformance may shift increasingly to the first half of 2022.
Gross sales had increased by 19% against the comparable 24-week period ending 15 December 2019. Gross sales via our online channel increased 76% against the same period.
Out of its estate of 212 showrooms, 52 showrooms in 'Tier 4' areas in England, all its 7 showrooms in Wales and the 6 Netherlands showrooms were currently closed in line with government guidance, the company said.
Story provided by StockMarketWire.com
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