DFS revenue jumps

DFS shares fall on H1 results

DFS has reported a 47% jump in revenue to £1.1bn in the year to the end of June.

The group also swung to a £99.2m pre-tax profit following an £81.2m loss a year earlier.

Despite the strong results, DFS warned of disruption in its supply chain.

“Whilst the high levels of demand are welcome, they do present substantial operational challenges for our supply chain and manufacturing teams to overcome,” said the group.

Tim Stacey, the chief executive said: “Our record profits delivery in the last financial year is a fitting tribute to all the hard work of our colleagues and testament to the resilience and flexibility of our integrated business model.

“Despite numerous operational challenges during the pandemic, I’m proud that we have remained focused on our strategic agenda to lead sofa retailing in the digital age and are on track to achieve the incremental £40m of profit benefits set out in 2018.

“As we enter a new financial year, the Group is very well positioned to build on its market leadership position in sofa retailing and to target further growth as we invest to strengthen our business platforms and extend our retail proposition into adjacent product categories.”