DFS profits on track after ‘strong trading performance’
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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