DFS Furniture 1H Sales Rose 10% Vs Fiscal 2019; Backs FY 2022 Guidance

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by Ian Walker

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DFS Furniture Plc said on Wednesday that sales in the first half of fiscal 2022 were up 10% compared to the same period in fiscal 2019, before the pandemic hit, and backed its full-year guidance.

The London-listed furniture retailer said current order intake remains strong, with the crucial trading period starting well after Christmas.

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The company’s order book is currently 200 million pounds ($272.7 million) above comparable pre-pandemic levels on a revenue basis, it said.

DFS said in March it plans to update the market on its earnings as well as its specific capital returns for the half-year ended December 26, 2021.

For the full year ending June, the company is expected to report profit before tax and brand amortization of GBP66 million to GBP96 million with a medium-case scenario of GBP85 million.

“Manufacturing and logistics disruption remains a risk going into H2, however, the accelerated deliveries we saw in Q2, as well as the on-boarding of new manufacturers and our recent investments in the sofa delivery company, give us confidence as we enter are in the second half of the financial year,” the DFS said.

Write to Ian Walker at [email protected]

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