Revenues up at DFS as group takes sofa sales into digital age

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Revenues up at DFS as group takes sofa sales into digital age
Courtesy of DFS

DFS, the Doncaster-headquartered furniture retailer, has seen group revenue rise 29.1% to £422.3 million in interim results released this week.

For the 22 weeks ended 30 December 2018, revenue adjusted to include the acquisition of Sofology on a pro-formal basis rose 9.9% to £422.3 million (FY18: £384.3m).

Underlying pro-forma EBITDA was up 23.8% to £32.8 million (FY18: £26.5 million), while underlying pro-forma profit before tax and brand amortisation up 83.9% to £16 million (FY18: £8.7 million).

“We are pleased with the performance for the first five months of the financial year across the Group, with all four of our brands achieving like-for-like revenue growth,” said Group CEO Tim Stacey.

Stacey added that profit expectations for the financial year “remain unchanged”.

Taking sofa sales into the digital age

The company said it has made progress in its strategy of leading sofa retailing into the digital age. As such, it has invested in operational technologies including AI-enabled delivery scheduling to develop its infrastructure.

“The benefits of our investments in our online channels, delivery networks and the development of our brands help mitigate the impact of a market which we expect to remain particularly challenging in 2019 given the current political and economic uncertainty,” said Mr Stacey.